- The businessman reaffirmed his allegiance to the metaverse
- But he has a new passion – artificial intelligence
Head of Meta Platforms Inc. Mark Zuckerberg does not abandon the strategy of the development of the metaverse, despite the billions in losses in the division of Reality Labs.
“The creation of the metaverse is a long-term project, and the rationale for it remains the same. We continue to be committed to him.”
Such statement Zuckerberg did after the presentation of the quarterly report.
The Reality Labs division, which develops virtual reality and the metaverse, recorded an operating loss of $3.99 billion in the first quarter of this year. For the full year of 2022, the department’s operating loss was $13.72 billion, according to Reality Labs’ annual report.
However, in general, Meta’s report turned out to be optimistic, as a result, their shares jumped. The company said first-quarter revenue beat expectations, costs were down, and current-quarter guidance was beaten.
Artificial intelligence is the new goal of Meta
During yesterday’s keynote, Zuckerberg added that his company is also focusing on AI. In February, Meta created a new team for generative artificial intelligence (AI). Zuckerberg revealed several new details about the project yesterday. According to him, work in the field of AI is carried out in two main areas: mass recommendations and ratings for social networks and advertising, as well as new options “based on generative AI.” Recall that Meta is preparing a neural network that will itself create metaverses.