Meta is preparing to slash up to £52 billion from its Metaverse budget as Mark Zuckerberg shifts Facebook's parent company toward artificial intelligence, signalling significant possible job cuts.
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Meta pivots from costly metaverse projects to AI-powered glasses. Company redirects Reality Labs resources following reports of lukewarm metaverse reception.
Meta could reportedly let go 30% of its metaverse unit's workforce - SiliconANGLE ...
Also in today's newsletter: investors fret over Japan's spending plans and Meta plans to slash spending on metaverse ...
Shares of Meta Platforms, Inc. (META) rose on Thursday after Bloomberg reported the technology company was planning to cut spending across its division by 10%, with as much as 30% cuts to its virtual reality group, which includes the so-called ...
Years after Meta renamed itself for the metaverse, the company is reportedly rethinking the cash-burning boondoggle ...
Seeking Alpha's roundup of statements, announcements, and remarks that could impact the technology sector. Read more here.
Meta plans to direct its investments to focus on wearables like its augmented reality glasses but does not plan to abandon building the metaverse.
Meta Platforms (META) shares are rallying after Bloomberg reported that CEO Mark Zuckerberg is preparing to make sharp cuts to the company's metaverse operations.
Meta's metaverse division has failed to gain traction over the years.