Meta is cutting Metaverse spending by 30% and shifting resources to AI-driven wearables like smart glasses, marking a major strategic pivot toward on-device intelligence.
In a remarkable turn of events, Meta Platforms Inc., the parent company of social media giant Facebook, experienced a significant boost in its shares, skyrocketing by 14% following the release of its impressive financial results. The company reported a tripled profit and made a historic announcement of its first-ever dividend payment to shareholders.
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