Meta Plans to Shift Spending Away From the Metaverse

Meta Platforms META 1.80%increase; green up pointing triangle is planning cuts to the metaverse, an arena Chief Executive Mark Zuckerberg once called the future of the company.

The proposed changes are part of Meta’s annual budget planning for 2026, and the company plans to shift spending from the metaverse to artificial-intelligence wearables, according to a person familiar with the matter. Several tech companies including Apple are working on wearable devices they believe might become the next major computing platform.