As a seasoned gamer with decades of virtual reality under my belt, I can’t help but feel a mix of anticipation and trepidation when it comes to Meta’s latest moves. On one hand, their AI-driven projects have shown immense promise, from open-source AI models that push the boundaries of what’s possible, to Ray-Ban glasses that blend the digital with the real world.
In Q2 2024, Meta surpassed Wall Street‘s expectations, yet it cautioned investors about persistent losses in its “Reality Labs” segment, stating that these losses will likely continue into the following year. Moreover, the company anticipates increased spending as they expand their artificial intelligence division.
As a gamer, I’m excited to share that we anticipate a substantial boost in capital investments next year, particularly in 2025. We’re pouring resources into advancing our artificial intelligence research and product development, which is an essential part of our game development journey.
“Mark Zuckerberg, Meta’s founder and CEO, stated that the company had a successful quarter. He expressed optimism that Meta AI would become the world’s most popular AI assistant by year-end. This confidence stems from the release of the initial open-source AI model at the frontier level and positive response to Ray-Ban glasses equipped with Meta AI. Furthermore, he highlighted steady growth across all Meta apps.”
In the second quarter, the company saw a significant increase in both revenue ($39.1 billion) and net income ($13.5 billion), with growth figures exceeding 10% compared to the same period last year.
More to come.
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2024-07-31 23:24