The metaverse was a $100 billion flop. It should make us think twice about AI predictions.

Reality Labs, the Meta division that hosts the project, has racked up around $75 billion in operating losses since 2020.

The Long Farewell to Mark Zuckerberg’s Metaverse

Meta announced changes that effectively leave Mr. Zuckerberg’s vision of an immersive digital world based in virtual reality ...

Meta to Shut Down Horizon Worlds on Quest, Signaling Metaverse Retreat

Meta‘s metaverse ambitions are hitting a crossroads. In a move that marks a dramatic shift in strategy, the tech giant is shutting down the VR version of Horizon Worlds on Quest. Once hailed as the ...
CoinTelegraph

Meta to cut 10% of metaverse arm this week amid AI push: Report

Meta’s Reality Labs is set for cuts as the firm’s metaverse budget continues to decline amid push toward artificial intelligence development. Meta is reportedly set to lay off around 10% of staff from ...
CNN

The metaverse is cooked, and Wall Street couldn’t be happier

A version of this story will appear in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free here. Shares of the company formerly known as Facebook shot up 7% early Thursday in ...