Meta’s earnings beat expectations, but investors question whether its $135 billion AI push will pay off after metaverse losses and rising competition.
Meta stock jumped after Q4 earnings showed AI-driven ad growth is paying off, easing fears that Meta’s AI push will repeat its metaverse mistakes.
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What was the metaverse?
Late last year, Meta confirmed it would effectively be abandoning the metaverse, a nebulously defined project that spurred the company’s 2021 rebrand and has cost it over $70 billion since. At a ...
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