Meta Cuts Metaverse Spending, Focuses on AI
Update: 2025-12-05
Description
Meta Platforms, formerly Facebook, plans to cut metaverse project spending by up to 30%, causing a surge in stock prices. The company, which changed its name four years ago to reflect its metaverse ambitions, is now shifting resources towards AI initiatives. The reported cuts, which could include layoffs, are due to lack of progress and competition in the metaverse space. The European Commission is also evaluating a new Meta policy that could block AI companies from reaching users directly through WhatsApp.
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