Metacon AB (META)
Summary
META Chart
Meta share price jumps as Zuckerberg reportedly shifts spending from metaverse to AI
Meta Platforms Inc (NASDAQ:META, XETRA:FB2A, SIX:FB) shares rose 3.4% on Thursday after-hours, adding about $57 billion to its market value, after reports suggested Mark Zuckerberg is preparing to dial back spending on the metaverse and shift more resources toward artificial intelligence and smart glasses. According to an exclusive from Bloomberg, the Facebook owenr is planning to cut the budget for Reality Labs, the division behind its virtual-reality headsets and metaverse projects.
Meta Plans to Shift Spending Away From the Metaverse
Zuckerberg's bet on immersive online worlds has lost the company more than $77 billion since 2020.
Meta Plans Big Cuts to Its Metaverse Efforts
Meta is expected to meaningfully cut resources for building the so-called metaverse, an effort CEO Mark Zuckerberg once framed as the future of the company. Bloomberg's Kurt Wagner discusses the news and the reason behind it with Caroline Hyde and Ed Ludlow on “Bloomberg Tech.
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Metacon AB Profile
| - Industry | - Sector | Mark Elliot Zuckerberg CEO | XSTO Exchange | SE0003086214 ISIN |
| US Country | 76,834 Employees | 22 Sep 2025 Last Dividend | - Last Split | 18 May 2012 IPO Date |
Overview
Meta Platforms, Inc., originally known as Facebook, Inc., is a pioneering technology firm that focuses on building products to foster connections and share experiences among people globally. Through an array of mobile devices, personal computers, wearable technologies, and virtual reality headsets, Meta Platforms ensures seamless connectivity across various platforms. The corporation dedicates its efforts toward two main segments: the Family of Apps and Reality Labs. These segments are designed to encompass a wide range of digital interaction and virtual experience tools, thus facilitating discussions, content discovery, and a sense of closeness among users worldwide. Headquartered in Menlo Park, California, the company underwent a significant rebranding in October 2021, marking a new chapter in its mission of connecting people. Founded in 2004, Meta Platforms continues to play a central role in the digital communication and social interaction landscape.
Products and Services
- Messenger
- Reality Labs
A social networking platform that allows users to share, discuss, and connect over interests. It has evolved into a global community where people can discover content and engage in discussions. Facebook is the cornerstone of the Family of Apps, illustrating the essence of Meta Platforms' mission.
This service stands as a vibrant community platform for sharing visual content, such as photos and videos. Users can engage through various features like stories, reels, live broadcasts, and a shopping feature, making Instagram a versatile app for social interaction and business purposes.
Messenger is a dynamic messaging application designed for text, audio, and video communications across different platforms and devices. It enables individuals to stay connected with friends, family, and businesses, underscoring Meta Platforms' focus on enhancing connectivity.
A messaging application that is pivotal for personal and business communications. WhatsApp offers end-to-end encryption, ensuring private conversations remain secure. It's an essential tool for millions worldwide, facilitating messaging and transactions in a secure environment.
Under the Reality Labs banner, Meta Platforms introduces a range of augmented and virtual reality products. These offerings include consumer hardware, software, and content designed to bridge distances and create immersive experiences. Reality Labs epitomizes the company's forward-looking approach in connecting people through advanced technology.
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