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Meta plans to cut up to 30% of its metaverse budget, reallocating funds to AI and advertising initiatives, driving investor optimism amid its $29 billion bond issuance for AI projects.
Meta plans to cut metaverse spending by 30%, focusing instead on virtual reality glasses and AI, reflecting a strategic shift and positive investor reaction with shares rising 3.4%.
Meta Platforms plans to cut up to 30% of its metaverse budget amid a broader 10% company-wide reduction, signaling a shift towards AI investments and away from virtual world development.