Meta Cuts Metaverse Spending, Boosts AI Investment
Update: 2025-12-05
Description
Meta Platforms stock surged over three percent following news of significant spending cuts in its metaverse division, Reality Labs. The proposed reductions, potentially up to thirty percent for 2026, signal a strategic shift towards AI development. Investors reacted positively, with shares closing at $661.70, a three percent increase. This move underscores the need for tech companies to adapt quickly to maintain competitiveness and financial health.
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