Coin

<ul class="news-points"> 
 <li>Mark Zuckerberg reaffirms commitment to metaverse vision and AI despite loss.</li> 
 <li>Reality Labs, Meta’s AR/VR division, experienced a $3.7B operating loss in Q2.</li> 
 <li>Meta continues to invest in AI and metaverse development while leaving NFTs and crypto behind.</li> 
</ul> 
Meta CEO Mark Zuckerberg recently conveyed the company’s steadfast commitment to its metaverse vision and artificial intelligence (AI) during a second-quarter earnings call reflecting a $37 billion loss in Reality Labs. 
Reality Labs, Meta’s <a href="https://coinedition.com/vr-tokens-grow-704-in-2023-first-half-while-pepe-gains-3700x-report/" rel="noopener noreferrer nofollow">augmented and virtual reality</a> (AR/VR) division, generated $276 million in Q2 revenue, experiencing a 39% decrease due to lower VR headset sales. The division’s expenses stood significantly higher at $4 billion, resulting in an operating loss of $3.7 billion. 
Despite the financial challenges, Zuckerberg remains optimistic about Reality Labs’ role in Meta’s long-term strategy, highlighting it as a significant opportunity for the company. 
Interestingly, Meta expects more substantial year-over-year increases in operating losses for Reality Labs. The driving factors behind this forecast are Meta’s dedication to advancing product development in AR/VR. 
Furthermore, Zuckerbe… 
The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/zuckerberg-reaffirms-commitment-to-metaverse-ai-despite-3-7b-loss/">Zuckerberg Reaffirms Commitment to Metaverse, AI Despite $3.7B Loss</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.

Zuckerberg Reaffirms Commitment to Metaverse, AI Despite $3.7B Loss

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