Zuckerberg Says Don't Count Metaverse Out Just Yet: 'If You Look At How Much We're Investing...'
Portfolio Pulse from Ananya Gairola
Meta Platforms Inc. CEO Mark Zuckerberg emphasized the company's ongoing commitment to the metaverse, despite the current focus on AI. In a podcast interview, he highlighted Meta's substantial annual investment of at least $15 billion in both AI and the metaverse. Zuckerberg's remarks underscore the importance of the metaverse to Meta's long-term strategy, even as AI garners more immediate attention. This comes amid scrutiny of Meta's metaverse initiatives, including a public critique by Elon Musk and layoffs in the Reality Labs unit.
February 19, 2024 | 9:10 am
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Meta Platforms Inc. remains deeply invested in the metaverse, with a significant annual investment of at least $15 billion. Despite facing scrutiny and challenges, including layoffs in its Reality Labs unit, Meta's leadership, including CEO Mark Zuckerberg, continues to prioritize the metaverse alongside AI as core to the company's future.
Zuckerberg's reaffirmation of Meta's commitment to the metaverse, despite the current hype around AI, suggests a strong belief in the metaverse's long-term value. The substantial investment and strategic focus on the metaverse, despite recent scrutiny and challenges, indicate Meta's confidence in the metaverse's potential to drive future growth. This could positively influence investor sentiment and Meta's stock price in the short term, as it reassures stakeholders of the company's direction and potential for innovation.
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