- Mark Zuckerberg denied that Meta was pivoting its focus from the metaverse to AI.
- "We've been focusing on both AI and the Metaverse for years now, and we will continue to focus on both," he said.
Meta CEO Mark Zuckerberg says he isn't abandoning the metaverse, even as the division of the company that manages its virtual and augmented reality projects lost $4 billion in the first quarter.
Recent comments by Zuckerberg and other Meta leaders have $4 and switching its strategy away from the metaverse. Top Meta execs are now spending most of their time focused on AI, CTO Andrew Bosworth $4.
"A narrative has developed that we're somehow moving away from focusing on the metaverse vision," Zuckerberg $4 on Wednesday. "So I just want to say upfront that, that's not accurate. We've been focusing on both AI and the Metaverse for years now, and we will continue to focus on both."
"Building the metaverse is a long term project, but the rationale for it remains the same and we remain committed to it," he added, noting that AI investment was needed to develop the technology powering the metaverse.
$4, the division that houses Meta's AR and VR units, including the metaverse and its Oculus Quest headsets, reported a $4 billion operating loss in the three months to March 31, slightly lower than the $4.3 billion losses it reported in the previous quarter, ending December 31.
"We continue to expect Reality Labs operating losses to increase year-over-year in 2023," Meta said in its $4. It added that it expected capital expenditures of between $30 billion and $33 billion for the year, in part because of increased investment in its $4 as well as its focus on $4.
"There are two major technological waves driving our roadmap – a huge AI wave today and a building metaverse wave for the future," Zuckerberg said.
Zuckerberg said that Meta was launching a new consumer virtual and mixed reality device later this year. "It was a very big step forward for VR, and I'm really excited to show the world all the improvements and new technology that we have developed since then at a price point that will be accessible for lots of people," he told investors.
Zuckerberg's comments came just a week after the company $4. Meta announced it was $4 in November, and then announced $4 four months later as part of its "year of efficiency."
Zuckerberg had said that November's layoffs were a "last resort" and were the result of overinvestment during the pandemic.