Bloomberg reports that Meta has decided to cut its Metaverse project budget, by around 30%. Meta has spent over $60 billion, developing AR and VR technologies in the past 5 years.
It is reported that Meta is shifting its priorities back to its core products, and to its AI technologies. While it is seen as a leader in the Metaverse, or in AR, it hasn't managed to translate that into any meaningful products, even though it is leading the AR markets with its AI-powered headsets.
Interestingly, when Meta recently launched its first display-powered AR headset, it chose to base it on an LCoS display and waveguides from 3rd parties, it did not utilize its in-house developed technologies or platforms.
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