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Meta Warns of Worsening AI Losses After Sales Narrowly Beat
Meta CEO Mark Zuckerberg said the company will ramp up heavy investments in AI and other futuristic technologies. The Meta executive has warned investors that the firm will continue to spend significantly on infrastructure and other projects like the metaverse and AI-powered glasses.
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Meta Cancels Plans for High-End Mixed-Reality Headset to Rival Apple Vision Pro: Report
Meta has scrapped its plans for a high-end mixed-reality headset, that could have rivalledd Apple's Vision Pro spatial computer, as reported by The Information. Employees in the Reality Labs division, which has incurred millions in losses to date, were instructed to halt their work on the project this week following a product review meeting, accord...
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Meta Looking to Hire Generative AI-Focused Workers on Metaverse Team After Layoffs
Meta is looking to hire employees to expand its foray in the generative AI space, as part of its metaverse team. As per a new job listing, could integrate GenAI with its metaverse-related efforts, including virtual reality (VR), augmented reality (AR), and mixed reality (MR) elements – that together make for components of the metaverse
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Meta Records 16 Percent Uptick in 2023 Annual Revenue, Metaverse Unit Still Under Loss
Meta managed to reel-in $134.9 billion in the year of 2023. On a yearly basis, Meta’s revenue spiked by 16 percent. It is, however, interesting that Meta’s Reality Labs unit has only seen losses since 2021.
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Mark Zuckerberg’s Podcast Interview as Photorealistic Meta Avatar Tickles People’s Metaverse Fancies
On September 28, Mark Zuckerberg appeared for a podcast interview with YouTuber and AI researcher Lex Fridman, but the venue of this interaction was the metaverse. In photorealistic Meta avatars, the two engaged in conversation about how Zuckerberg envisioned the future of virtual reality and the metaverse.
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Meta’s Reality Labs Continues to See Losses Despite Company Boasting 11 Percent YoY Spike in Revenue
Meta’s revenue climbed to $32 billion (roughly Rs. 2,62,377 crore) in the second quarter of 2023. The social networking giant did not disclose exactly how much its metaverse-related unit Reality Labs lose this quarter. It did however say, that its Reality Labs division could see more dips.
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US Antitrust Regulators Plan Tougher Big Tech Merger Guidelines
New draft guidelines released by U.S. antitrust enforcers on Wednesday lay the groundwork for tougher scrutiny of planned mergers by Big Tech companies like Amazon and Alphabet's Google. The Biden administration has taken a tougher stance on mergers, filing some aggressive challenges. It had two court losses just last week.
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Meta's 'Efficiency' Layoffs Left Staff In Limbo, "Anxious And Demotivated"
Meta Job Cuts: Meta Platforms Inc. employees received news Wednesday of the final round of previously announced job cuts, which affected thousands of workers in the company's business departments.
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Meta Investors Appeal to Revive Cambridge Analytica Fraud Case
Meta Platforms investors formally asked a US appeals court to revive a proposed class action accusing the Facebook parent of concealing a serious privacy breach that let a political consulting firm harvest users' personal information. The request came during oral arguments on Wednesday before the 9th US Circuit Court of Appeals in San Francisco ...
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Mark Zuckerberg Keeps Metaverse Bet Big Despite Losing $13.7 Billion in 2022
Meta’s metaverse unit recorded its largest quarterly loss that amounted to $4.3 billion (roughly Rs. 35,222 crore) between September and December 2022. Despite the losses, Mark Zuckerberg is headstrong about his strategy for Meta’s Reality Labs unit.
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Snap Expects Lower Revenue in First Quarter Amid Increased Competition From TikTok, Lower Ad Demand
Snap reported on Tuesday that the firm swung to a net loss in Q4 2022 and the parent firm of popular app Snapchat expects revenue to fall by up to 10 percent in the current quarter. The company said that its business continued to be hurt by a weakening economy, increased competition from rivals and "platform policy changes".
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Meta Focusing Only 20 Percent of Resources on Developing Hardware, Software for Metaverse: Zuckerberg
At present, only 20 percent of Meta’s functional focus is on developing the hardware and software to support the metaverse ecosystem, Zuckerberg noted in a recent speech. Zuckerberg was speaking virtually at the New York Times DealBook Summit when he noted that his company needs to work more efficiently in order to finetune the metaverse tech on ...
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Facebook's Meta Rebranding Clocks a Year, FTX CEO Dissects Zuckerberg’s ‘Distracting’ Decision
Facebook’s rebranding to Meta completed a year on October 28. Sam Bankman-Fried (SBF), the CEO of the FTX crypto exchange, who is also among the biggest investors in Web3 projects, has argued that this rebranding is not fulfilling Mark Zuckerberg’s plan of churning billions.
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Meta's Metaverse-Linked Division Posts Losses Close to $3.7 Billion in Q3 2022
Facebook’s parent company Meta reported that its metaverse division Reality Labs lost $3.7 billion (roughly Rs. 30,476 crore) in the third quarter of this year, bringing its accumulated losses in 2022 to $9.4 billion (roughly Rs. 77,386 crore), according to its third-quarter financial report on Wednesday.
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Investors Losing Patience Over Mark Zuckerberg's Bets On Metaverse: Report
Wall Street is losing patience over Meta boss Mark Zuckerberg's enormous and experimental bets on his metaverse project that helped drive up the company's overall costs by a fifth in the third quarter.
-
Meta Warns of Worsening AI Losses After Sales Narrowly Beat
Meta CEO Mark Zuckerberg said the company will ramp up heavy investments in AI and other futuristic technologies. The Meta executive has warned investors that the firm will continue to spend significantly on infrastructure and other projects like the metaverse and AI-powered glasses.
-
Meta Cancels Plans for High-End Mixed-Reality Headset to Rival Apple Vision Pro: Report
Meta has scrapped its plans for a high-end mixed-reality headset, that could have rivalledd Apple's Vision Pro spatial computer, as reported by The Information. Employees in the Reality Labs division, which has incurred millions in losses to date, were instructed to halt their work on the project this week following a product review meeting, accord...
-
Meta Looking to Hire Generative AI-Focused Workers on Metaverse Team After Layoffs
Meta is looking to hire employees to expand its foray in the generative AI space, as part of its metaverse team. As per a new job listing, could integrate GenAI with its metaverse-related efforts, including virtual reality (VR), augmented reality (AR), and mixed reality (MR) elements – that together make for components of the metaverse
-
Meta Records 16 Percent Uptick in 2023 Annual Revenue, Metaverse Unit Still Under Loss
Meta managed to reel-in $134.9 billion in the year of 2023. On a yearly basis, Meta’s revenue spiked by 16 percent. It is, however, interesting that Meta’s Reality Labs unit has only seen losses since 2021.
-
Mark Zuckerberg’s Podcast Interview as Photorealistic Meta Avatar Tickles People’s Metaverse Fancies
On September 28, Mark Zuckerberg appeared for a podcast interview with YouTuber and AI researcher Lex Fridman, but the venue of this interaction was the metaverse. In photorealistic Meta avatars, the two engaged in conversation about how Zuckerberg envisioned the future of virtual reality and the metaverse.
-
Meta’s Reality Labs Continues to See Losses Despite Company Boasting 11 Percent YoY Spike in Revenue
Meta’s revenue climbed to $32 billion (roughly Rs. 2,62,377 crore) in the second quarter of 2023. The social networking giant did not disclose exactly how much its metaverse-related unit Reality Labs lose this quarter. It did however say, that its Reality Labs division could see more dips.
-
US Antitrust Regulators Plan Tougher Big Tech Merger Guidelines
New draft guidelines released by U.S. antitrust enforcers on Wednesday lay the groundwork for tougher scrutiny of planned mergers by Big Tech companies like Amazon and Alphabet's Google. The Biden administration has taken a tougher stance on mergers, filing some aggressive challenges. It had two court losses just last week.
-
Meta's 'Efficiency' Layoffs Left Staff In Limbo, "Anxious And Demotivated"
Meta Job Cuts: Meta Platforms Inc. employees received news Wednesday of the final round of previously announced job cuts, which affected thousands of workers in the company's business departments.
-
Meta Investors Appeal to Revive Cambridge Analytica Fraud Case
Meta Platforms investors formally asked a US appeals court to revive a proposed class action accusing the Facebook parent of concealing a serious privacy breach that let a political consulting firm harvest users' personal information. The request came during oral arguments on Wednesday before the 9th US Circuit Court of Appeals in San Francisco ...
-
Mark Zuckerberg Keeps Metaverse Bet Big Despite Losing $13.7 Billion in 2022
Meta’s metaverse unit recorded its largest quarterly loss that amounted to $4.3 billion (roughly Rs. 35,222 crore) between September and December 2022. Despite the losses, Mark Zuckerberg is headstrong about his strategy for Meta’s Reality Labs unit.
-
Snap Expects Lower Revenue in First Quarter Amid Increased Competition From TikTok, Lower Ad Demand
Snap reported on Tuesday that the firm swung to a net loss in Q4 2022 and the parent firm of popular app Snapchat expects revenue to fall by up to 10 percent in the current quarter. The company said that its business continued to be hurt by a weakening economy, increased competition from rivals and "platform policy changes".
-
Meta Focusing Only 20 Percent of Resources on Developing Hardware, Software for Metaverse: Zuckerberg
At present, only 20 percent of Meta’s functional focus is on developing the hardware and software to support the metaverse ecosystem, Zuckerberg noted in a recent speech. Zuckerberg was speaking virtually at the New York Times DealBook Summit when he noted that his company needs to work more efficiently in order to finetune the metaverse tech on ...
-
Facebook's Meta Rebranding Clocks a Year, FTX CEO Dissects Zuckerberg’s ‘Distracting’ Decision
Facebook’s rebranding to Meta completed a year on October 28. Sam Bankman-Fried (SBF), the CEO of the FTX crypto exchange, who is also among the biggest investors in Web3 projects, has argued that this rebranding is not fulfilling Mark Zuckerberg’s plan of churning billions.
-
Meta's Metaverse-Linked Division Posts Losses Close to $3.7 Billion in Q3 2022
Facebook’s parent company Meta reported that its metaverse division Reality Labs lost $3.7 billion (roughly Rs. 30,476 crore) in the third quarter of this year, bringing its accumulated losses in 2022 to $9.4 billion (roughly Rs. 77,386 crore), according to its third-quarter financial report on Wednesday.
-
Investors Losing Patience Over Mark Zuckerberg's Bets On Metaverse: Report
Wall Street is losing patience over Meta boss Mark Zuckerberg's enormous and experimental bets on his metaverse project that helped drive up the company's overall costs by a fifth in the third quarter.
