Meta's Zuckerberg plans deep cuts for metaverse
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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.
Citing people familiar with the discussions, Bloomberg reported on Dec. 4 that the budget cut can be up to 30%. Executives at the tech giant are reviewing plans that could reduce Reality Labs’ 2026 budget by nearly a third, far deeper than the 10% cuts requested across most departments.
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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