“We remain fully committed to the Metaverse vision while continuing to invest in the field of artificial intelligence,” said Mark Zuckerberg, founder and CEO of Meta. “We have been working on these two main priorities simultaneously for many years, and in many ways the two areas overlap and complement each other.
Reality Labs, the Metaverse division, posted a loss of $3.74 billion on revenue of more than $276 million in the second quarter of this year, citing product development work in the field of virtual reality and further investment in its Metaverse as the reason for the widening loss.