Meta shifts some metaverse investments to AI smart glasses

Meta is shifting some of its investments in the metaverse to AI glasses and wearables, hoping to capitalise on the momentum in that segment, a company spokesperson has said. Over the last decade, Meta has poured billions of dollars to build the metaverse, which lets people to interact in a virtual reality. However, the tech giant has struggled to convince investors of the viability of the nascent technology. Bloomberg first reported on Thursday that Meta would cut its metaverse investment by as much as 30%. Its shares climbed more than 3.4% following the news.