Meta Considering 30% Budget Cuts for Metaverse Division Next Year
By
Emma Roth
Warm and crisp on the edges. A bagel with a bit of bite.
Summary
Meta is reportedly considering cutting its metaverse division's budget by up to 30% next year, according to Bloomberg sources. The potential cuts would impact the unit responsible for Quest VR headsets and Horizon Worlds social platform. This represents a significant shift from Meta's previous heavy investment in metaverse development, as CEO Mark Zuckerberg has redirected the company's focus toward AI superintelligence development.
Key quotes
· 4 pulledMeta may slash its budget for metaverse projects by up to 30 percent next year, according to a report from Bloomberg.
Sources tell the outlet the potential cuts haven't been finalized, but they would impact the unit that works on Meta's Quest virtual reality headsets, along with its social platform Horizon Worlds.
Meta, which changed its name from Facebook to align itself with the metaverse, has poured billions into building out its vision for virtual worlds over the past few years.
But CEO Mark Zuckerberg has since shifted the company's focus to developing AI superintelligence.
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