Susan Li
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Meta continues to insist AI spend is totally justified, potentially blowing over $8 billion on data centers
Meta reported a record second-quarter revenue of $60.80 billion, but its shares are down due to significant investments in AI infrastructure and Reality Labs. The company plans to spend between $130 billion and $145 billion on AI this year, with CEO Mark Zuckerberg highlighting AI's positive impact on advertising revenue and potential for enterprise services.
Meta lays off hundreds of workers, including more from Reality Labs
Meta has laid off hundreds of employees, with a significant number from its Reality Labs division, which focuses on VR and the metaverse. These cuts come amid substantial investments in AI infrastructure and a reported workforce reduction plan. Several executives are also set to receive large, performance-tied compensation packages.
VR app Meta Horizon Worlds will no longer be playable in VR
Meta Horizon Worlds, the VR social network app, will cease to be playable in virtual reality starting June 15, transitioning to a mobile-only experience. This change is part of Meta's renewed focus on VR and mobile platforms, aiming to streamline the Quest experience and better support developers. The move follows significant financial losses and studio closures within Meta's Reality Labs division.
