Meta hasn’t given up on the metaverse, despite a very public pivot to artificial intelligence.
The focus on the metaverse hasn’t been profitable for the social media giant as it continues to lose billions of dollars due to the initiative. During 2022, Meta’s Facebook Reality Labs division, which is responsible for metaverse,on revenue of $2.2 billion, up from a loss of $10.2 billion on revenue of $2.3 billion in 2021.
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