Meta shares are higher this morning after a report said the company is planning to meaningfully cut the resources devoted to its metaverse efforts slashing budgets there by as much as 30% next year. Let's bring in Gil Lauria DA Davidson's head of technology research uh for his take on this. So Gil, how do you think about it in terms of magnitude of spending.The markets, you know, added about 100 billion in market cap to uh to Meta this morning in response. Yeah, if they shut down the Reality Labs business, ...

Basically what sources are telling us is that Zuckerberg is said to the leadership of a company why they're aiming for 10% cuts, but the metaverse ambition hasn't really materialized. So according to these sources at Xbox Hawaii Home in the last few weeks, they basically reviewed it and said the cuts need to be deeper in that unit. It's really interesting that we're so focused on AI right now and it's a big move higher in the stock on this Bloomberg report, right, Danny.But I remember a time where the widen ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

Basically what sources are telling us is that Zuckerberg is said to the leadership of a company why they're aiming for 10% cuts, but the metaverse ambition hasn't really materialized. So according to these sources at Xbox Hawaii Home in the last few weeks, they basically reviewed it and said the cuts need to be deeper in that unit. It's really interesting that we're so focused on AI right now and it's a big move higher in the stock on this Bloomberg report, right, Danny.But I remember a time where the widen ...

Group 1: Nvidia and AI Market - Nvidia CEO Jensen Wong met with U.S. officials, including President Trump, to discuss chip export restrictions and the importance of the China market, noting that Nvidia is currently not competing in China [2][10] - Wong emphasized that the U.S. must engage with China to avoid ceding the AI market to local companies, drawing parallels to the 5G technology race [11][55] - Reports indicate Nvidia is close to securing a lobbying win that would allow it to sell advanced AI chips to China, as lawmakers excluded restrictive measures from defense legislation [4][12] Group 2: Labor Market and Economic Indicators - Jobless claims fell to 191,000, marking a three-year low and better than the estimated 219,000, indicating a strong labor market [27][28] - The Challenger report revealed 71,000 layoffs in November, a 24% increase from the previous year, with sectors like telecommunications and technology being the hardest hit [29][30] Group 3: Retail Sector Performance - Dollar General reported better-than-expected earnings for Q3 and raised its fiscal outlook, reflecting strong performance as consumers seek value in discount retailers [6][34] - Dollar Tree also lifted its earnings outlook, indicating a trend where low-cost retailers are outperforming amid economic uncertainty [6][34] Group 4: Meta and the Metaverse - Meta is reportedly considering cutting its metaverse efforts by up to 30%, reflecting skepticism about the profitability of its virtual reality initiatives [36][41] - The company has lost over $70 billion in its Reality Labs since 2021, prompting a reevaluation of its capital allocation towards more promising areas like AI [41][58] Group 5: Stock Market Trends - Stock futures are gaining as investors anticipate a potential rate cut by the Federal Reserve, with the market reacting positively to recent labor data [5][15] - The overall market remains mixed, with Nvidia's stock struggling after a recent drop of about 15% [48]

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Group 1 - Meta CEO Mark Zuckerberg has repositioned the company as an AI-focused entity, indicating a strategic shift from its original social media roots [1][2] - Meta Platforms shares increased by approximately 6% following reports of potential significant cuts to the company's metaverse resources, with discussions considering reductions as high as 30% for that unit [1] - The rebranding to Meta in October 2021 was intended to signal a pivot beyond social media, highlighting the company's evolving focus [2]

Meta Platforms(META.O)盘前涨约4%，CEO扎克伯格计划对Metaverse预算削减30%。 本文源自：金融界AI电报 ...

Core Viewpoint - Meta is expected to implement budget cuts of up to 30% for its metaverse initiative, which has seen significant financial losses since its inception, leading to a 4% rise in its shares as investor concerns eased [1][2]. Group 1: Budget Cuts and Financial Impact - The proposed cuts are part of Meta's annual budget planning for 2026, with potential layoffs as early as January [2]. - The metaverse initiative has burned more than $60 billion since 2020, prompting a shift in strategy to align costs with a less optimistic revenue outlook [1][3]. Group 2: Market Position and Product Development - Meta has struggled to sell its vision of an immersive metaverse and expand its device market beyond gaming, although it has gained an early lead with its smart glasses [4]. - Competitors like Alphabet, Apple, and Snap have not successfully capitalized on the smart glasses market, allowing Meta to maintain a competitive edge [4]. Group 3: AI Initiatives and Spending - Meta is also focusing on artificial intelligence, having committed up to $72 billion in capital spending this year, as part of a broader industry trend where large tech companies are expected to spend around $400 billion on AI [5]. - The company reorganized its AI efforts under Superintelligence Labs, with aggressive talent acquisition strategies led by CEO Mark Zuckerberg [6].

扎克伯格计划对Metaverse预算削减30%。 ...