Reality Labs – DIGIT INFO

Alibaba reportedly cuts dozens from metaverse unit

DIGIT — Mon, 04 Nov 2024 04:54:49 +0000

The Chinese e-commerce giant has become the latest to slash resources for metaverse development as the focus shifts to AI.

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Former BAYC creative director Jeff Nicholas joins Meta’s Reality Labs

DIGIT — Sat, 17 Aug 2024 18:21:32 +0000

Nicholas joins Meta as an executive mixed reality producer for entertainment experiences.

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Meta burns another $4.5B on metaverse in Q2, preps for AI growth

DIGIT — Thu, 01 Aug 2024 04:31:24 +0000

Meta’s share price popped 7% in after-hours trading following a better-than-expected Q2 earnings call.

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

DIGIT — Thu, 25 Apr 2024 00:01:06 +0000

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

DIGIT — Wed, 26 Jul 2023 23:30:04 +0000

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

DIGIT — Thu, 27 Apr 2023 00:11:16 +0000

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

DIGIT — Sat, 04 Feb 2023 06:30:11 +0000

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

DIGIT — Thu, 02 Feb 2023 01:12:27 +0000

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

DIGIT — Tue, 20 Dec 2022 11:00:25 +0000

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

DIGIT — Thu, 01 Dec 2022 06:04:45 +0000

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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