Meta Halts Metaverse Spending Amidst Budget Cuts & AI Focus

Social media giant Meta is scaling back its metaverse investments, potentially slashing up to 30% of funding for the division and redirecting resources towards augmented reality glasses and artificial intelligence development. Sources indicate a potential January budget cut for Meta’s Reality Labs division, the focus of the metaverse initiatives. This move comes as market competition for the metaverse has cooled, with giants like Apple and Google scaling back efforts. Meta is now prioritizing investments in AI-powered AR glasses to enhance user experiences.