Meta plans to cut its metaverse budget by roughly 30% to prioritize AI spending. Reality Labs has spent tens of billions over recent years. Meta shares recently fell more than 25% from peak levels. If ...

Meta stock shot up 5.7% in early New York trading on Thursday after internal discussions revealed that Mark Zuckerberg is preparing to massively reduce funding for the company’s metaverse projects.

(Bloomberg/Kurt Wagner) — Meta Platforms Inc.’s Mark Zuckerberg is expected to meaningfully cut resources for building the so-called metaverse, an effort that he once framed as the future of the ...

Facebook changed its name in 2021 to reflect the company’s newfound dedication to the interconnected virtual world concept known as the metaverse. Now, Meta is dialing back its intentions of being “a ...

Facebook changed its name in 2021 to reflect the company’s newfound dedication to the interconnected virtual world concept known as the metaverse. Now, Meta is dialing back its intentions of being “a ...

Meta is betting big on AI, and some investors are having flashbacks to a previous high-profile spending spree.

Dec 4 (Reuters) - Meta is expected to make budget cuts of up to 30% for its metaverse initiative, Bloomberg News reported on Thursday, citing people familiar with the discussions. The Facebook ...

There was a very interesting article in the Irish Times a couple of weeks ago concerning Mark Zuckerberg’s retreat from the metaverse after spending $70 billion over four years trying to turn his ...

Walmart has filed several new trademarks hoping to produce and sell virtual goods. Separate filings show the retailer also plans to create its own cryptocurrency and NFTs. The retailer joins a slew of ...

Apple is set to reveal its mixed-reality headset at its Worldwide Developer Conference, but waning interest in the metaverse makes it a tough sell.