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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 shares rose 3.5% after plans to cut its costly metaverse division’s budget by 30% and pivot toward AI growth, while Alphabet’s AI upgrade fueled tech sector optimism. Meta focuses on profitabili…
Meta plans significant metaverse budget cuts to prioritize AI development and hardware, prompting a strong market rally on hopes for more profitable growth areas.
Meta plans to cut its Reality Labs budget by 30%, impacting VR projects and causing layoffs, while shifting focus toward expanding advanced AI development.
Meta plans to reduce its metaverse budget by up to 30%, likely resulting in layoffs early next year, amid weaker-than-expected competition and investor scrutiny. Additionally, a standard 10% budget c…
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.
Meta Platforms plans to cut up to 30% of its metaverse budget, signaling a shift towards AI investment and cost reduction, boosting shares by over 4%.
Meta is cutting its metaverse Reality Labs budget by up to 30%, shifting focus to AI and AI-linked hardware after $70 billion investment with limited success, signaling a strategic pivot toward near-…
Meta Platforms plans up to 30% budget cuts for its metaverse division, possibly including layoffs, due to weaker-than-expected competition and investor scrutiny, with broader 10% cuts across departme…
Meta Platforms plans significant budget cuts of up to 30% for its Metaverse division next year, signaling reduced investment in this strategic area.
Meta plans significant budget cuts on metaverse development, indicating a strategic shift and potential slowdown in related investments.