Zuckerberg could cut budget for Metaverse group
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Four years ago, Mark Zuckerberg’s Facebook unveiled an audacious rebrand and revealed a bold ambition: it was going to start focusing on the metaverse.The tech giant would now be known as Meta — that’s Greek for beyond,
In October 2021, Facebook CEO Mark Zuckerberg revealed that his social media empire was officially rebranding itself as “Meta” as part of a sweeping company-wide doubling down on virtual reality tech.
Meta is reportedly slashing its Metaverse budget by up to 30% for 2026, signaling a potential shift away from its ambitious virtual reality vision after incurring over $70 billion in losses. This move comes as the company doubles down on artificial intelligence,
Meta shares surged by $100bn (£75bn) as investors cheered plans for Mark Zuckerberg to rein in spending at his struggling “Metaverse” unit.
Facebook-owner Meta won a landmark lawsuit Tuesday when a federal judge ruled the company’s acquisitions of Instagram and WhatsApp don’t violate US antitrust law. The big win over the Trump administration comes at an interesting time for Meta Chairman Mark Zuckerberg, who has spent more than a year sidling up to the Republican president.
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Mark Zuckerberg’s Instagram is requiring all of its US-based employees to return to the office five days per week, a company spokesperson confirmed on Tuesday.
Meta CEO Mark Zuckerberg is reportedly planning significant resource cuts, potentially as high as 30%, for its metaverse division, including virtual worlds and VR units. This comes as the company shifts its focus towards artificial intelligence development,