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Published 10 days ago

Metaverse Loses $4 Billion, Facebook Stock Tumbles

Summary by The Epoch Times
Facebook owner Meta registered nearly $4 billion in losses for its metaverse and AI research wing in the first quarter, with the company’s stock crashing by more than 11 percent in a single day. Meta reported its first-quarter 2024 earnings on Wednesday, revealing that its “Reality Labs” division suffered massive losses. Reality Labs is the company’s research and development wing focusing on immersive technologies like metaverse, virtual reality…

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The Epoch TimesThe Epoch Times

Metaverse Loses $4 Billion, Facebook Stock Tumbles

Facebook owner Meta registered nearly $4 billion in losses for its metaverse and AI research wing in the first quarter, with the company’s stock crashing by more than 11 percent in a single day. Meta reported its first-quarter 2024 earnings on Wednesday, revealing that its “Reality Labs” division suffered massive losses. Reality Labs is the company’s research and development wing focusing on immersive technologies like metaverse, virtual reality…

10 days ago·New York, United States
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