Reality Labs – DIGIT INFO

Meta drops 15% on weak outlook and high AI and metaverse spending

Meta shares dipped after a disappointing Q2 revenue outlook and plans to spend nearly $100 billion this year as it aims to “invest aggressively” in its AI products.

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Meta Q2 earnings: Reality Labs losses top $7.7B year to date

Meanwhile, Meta’s metaverse-building business has racked up around $21 billion in losses since the start of 2022.

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Metaverse division’s $4B loss drags on positive first quarter for Meta

Zuckerberg expects Reality Labs operating losses to increase year-over-year in 2023.

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Meta Calls 2023 a ‘Year of Efficiency;’ Anticipates More Losses in Its Metaverse Division

Meta, the company that owns Facebook, Instagram, and Whatsapp, has shared its fourth quarter results, reporting better numbers than expected. While the company beat revenue estimates, CEO Mark Zuckerberg declared 2023 a “Year of Efficiency,” hinting at a further restructuration of the company to focus on its AI (artificial intelligence) and metaverse projects in the […]

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Meta CEO Zuckerberg steadfast on metaverse plans despite $13.7B setback

During a Q4 earnings call on Feb. 1, Mark Zuckerberg said he saw no reason to deviate from their long-term Metaverse strategy.

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Meta Will Continue to Push Metaverse Investments in 2023 According to Head Of Reality Labs

Meta will continue to invest in VR (virtual reality) tech in 2023, according to statements made by Andrew Bosworth, head of Reality Labs, the metaverse division of the company. While Meta has made some changes and adapted to the current shaky economic atmosphere, Bosworth states that the company is still committed to its metaverse pivot. […]

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Meta ‘powering through’ with Metaverse plans despite doubts — Zuckerberg

Billions of dollars have been poured into Meta’s virtual world with little return on investment, but CEO Mark Zuckerberg says he is holding fast.

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Meta Announces Layoffs Affecting 13% of Workforce; More Than 11,000 Employees to Be Fired Amidst ‘Cultural Shift’

Meta, the social network company, has announced that it will cut 11,000 jobs, letting go of 13% of the employees in its workforce amidst a “cultural shift” in the company. Mark Zuckerberg, CEO of the company, explained this decision was made due to a need to become more “capital efficient,” and described the next steps […]

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Meta reportedly plans ‘large-scale layoffs,’ but what of its metaverse division?

As of the end of September, Meta had more than 87,000 employees — a large proportion of which is said to work in the Reality Labs division.

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Metaverse losses top $3.6B for Meta with spending set to increase

The tech giant is just over $500 million away from topping its more than $10 billion Metaverse department losses in 2021, but it said its spending will only grow next year.

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