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Meta is scaling back its Metaverse ambitions and directing resources toward AI-powered glasses and wearable technology, the company told FOX Business Thursday.
The changes follow reports that Meta could take up to a 30% cut from Metaverse Group, which CEO Mark Zuckerberg had previously touted as the company’s future.
on the other hand, tech giant Although it did not confirm specific numbers, the company said the adjustments will be made within Reality Labs, the division responsible for augmented reality and virtual reality projects.
“Within our overall Reality Labs portfolio, given the momentum, we are moving some of our investments from Metaverse into AI glasses and wearables. We are not planning any broader changes beyond that,” a Meta spokesperson told FOX Business.
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Meta CEO Mark Zuckerberg, speaking in Menlo Park, Calif., announced Thursday that the company is directing resources toward AI-powered glasses and wearable technology. (Reuters/Manuel Orbegoso/Reuters)
According to Bloombergthe proposed 30% cut is part of Meta’s 2026 budget plan, and cuts of this magnitude could include layoffs as early as January.
| ticker | safety | last | change | change % |
|---|---|---|---|---|
| meta | Meta Platforms Co., Ltd. | 661.53 | +21.93 |
+3.43% |
Investors seemed to welcome the news, with Meta shares up 4%. The increase could signal a shift to more disciplined and strategic spending, as well as a sense of relief that the company is winding down costly Metaverse projects that have cost it more than $60 billion, Reuters said.
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Meta can take up to 30% off a Metaverse group. (Reuters/Albert Geer/Reuters Photo)
The meta is faced the challenge of selling their vision of an immersive metaverse and expanding it beyond the gaming community. However, the company has had early success with smart glasses, which explains the company’s decision to shift resources into the wearable technology space, Reuters added.
In contrast, competitors such as Google, Apple and Snap face challenges in turning their early products into commercially successful products, the outlet added.
Oakley and Meta have announced the new Oakley Meta HSTN AI-powered glasses. (Courtesy Meta/Fox News)
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The announcement comes as Meta ramps up its competitive efforts. Artificial intelligence (AI)following reports of poor treatment of Llama 4 models.
Zuckerberg previously announced The company will spend up to $65 billion in capital spending this year, while the broader technology industry is expected to spend about $400 billion on AI in 2025, Reuters added.
FOX Business’ Breck Dumas and Reuters contributed to this report.
