Meta scales back metaverse spending following reports of cutting budget by up to 30%

Meta is dialing back its metaverse ambitions and redirecting resources toward AI-powered glasses and wearable technology, the company told FOX Business on Thursday.The shift follows reports that Meta could slash as much as 30% from its metaverse group, an area CEO Mark Zuckerberg has previously touted as the company’s future.While the tech giant did not confirm specific figures, the company said adjustments would take place within Reality Labs, its division responsible for augmented-