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00:03Meta plans to cut Metaverse spending and shift those funds to AI glasses and wearables as part
00:08of its 2026 budget planning, according to the Wall Street Journal. The move departs from
00:13Zuckerberg's 2021 Metaverse vision and follows more than $77 billion in Reality Lab's operating
00:19losses since 2020. Investors welcome the shift, sending shares up more than 3%.
00:25Meta has prioritized AI throughout the year, forming a super intelligence division,
00:30offering $100 million pay packages to specialists and focusing on Ray-Ban AI glasses, which have
00:37sold more than 2 million pairs. The company cut about 600 jobs in its AI division in October
00:42to streamline operations and warned of rising capital expenditures to compete in AI.
00:46For all things money, visit Benzinga.com.
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