News with the tag "reality labs"

The Chinese e-commerce giant has become the latest to slash resources for metaverse development as the focus shifts to AI.

Nicholas joins Meta as an executive mixed reality producer for entertainment experiences.

Meta’s share price popped 7% in after-hours trading following a better-than-expected Q2 earnings call.

Meta shares dipped after a disappointing Q2 revenue outlook and plans to spend nearly $100 billion this year as it aims to “invest aggressively” in its AI products.

Reality Labs, Meta’s subsidiary focused on developing the metaverse, recorded an operating loss of $4.65 billion in the last quarter of 2023. Meta keeps doubling down on its bet on the metaverse as its expenses to develop virtual reality hit…

Meta, under the leadership of CEO Mark Zuckerberg, proudly announced its outstanding financial performance for the fourth quarter of 2023. This accomplishment marks a significant turning point for the tech giant’s Reality Labs division, which had previously incurred substantial losses. The announcem...

Meta, the parent company of Facebook, reported its fourth-quarter results on February 1, revealing a substantial loss in its mixed-reality division, Reality Labs, despite impressive revenue figures. This development has raised questions about the company’s ongoing investments in augmented and virtua...

In recent developments, Meta, previously known as Facebook, is preparing for workforce adjustments within its Reality Labs division, with a specific focus on its silicon unit. Insider sources have reported that the social media conglomerate is taking steps to fine-tune its operational structure. Whi...

Meta’s Horizon Worlds, the metaverse flagship app of the company formerly known as Facebook, is reportedly getting legs as part of users’ avatars in the coming weeks. The functionality is already present in a public test version of the app, but it is only present in Horizon Home, the default space o...

Meanwhile, Meta's metaverse-building business has racked up around $21 billion in losses since the start of 2022.