00:00It's Benzinga bringing Wall Street to Main Street.
00:02Meta Platforms is shifting focus toward artificial intelligence while scaling back its metaverse
00:07efforts after losing $80 billion, according to Quartz. The company will remove Horizon Worlds
00:13from Quest headsets by June 15, with the app gone by the end of March. The platform will
00:18transition to a mobile app with reduced focus. Meta still plans to release VR hardware and
00:24Ray-Ban smart glasses with an emphasis on AI. Zuckerberg said in 2024, the company was nearing
00:30its Reality Labs goals, though the segment remains unprofitable. Shares have risen over time,
00:35with a $1,000 investment in 2021 now worth $1,867.48, up 86.7% over the last four
00:45and a half years.
00:46For all things money, visit Benzinga.com.
