Meta is significantly increasing its investment in artificial intelligence, despite significant losses in its virtual reality division, Reality Labs. Facebook founder Mark Zuckerberg announced the company’s commitment to AI expansion as part of its latest quarterly earnings report, revealing Instagram has three billion daily users alongside WhatsApp.The push into AI comes as Meta navigates a complex financial landscape. While sales of new AI glasses with cameras and microphones increased from $270 to $470 million, Reality Labs reported an operating loss of $4.4 billion – comparable to the same quarter last year.Zuckerberg expressed confidence that AI investments will become profitable ”at some point,” with Meta aiming to reach “hundreds of millions or billions of people” with its AI-powered devices.
beyond AI, Meta’s quarterly profit shrank to $2.7 billion, an 83 percent decrease from the previous year, partially due to a $15.93 billion one-time tax burden resulting from changes to US tax law enacted over the summer. Despite this setback, the company remains focused on growth in its core social media platforms – Instagram and WhatsApp – and its emerging AI technologies.
