Zuckerberg bets on the future – With the arrival of spring, it is time to take stock of this new year on the side of Meta. Et 2023 starts not too badly overall despite further losses for Reality Labsthe metaverse division of the company. Mark Zuckerberg remains optimistic all the same and continues to invest in this sector, he also says he is very interested in theartificial intelligence. Direction San Francisco Bay to take stock.
4 billion losses for Reality Labs in the first quarter
Major American corporations reveal one after another their results for this first trimester and Mark Zuckerberg took part in the exercise. The first figure that interests us today is the profit recorded during this Q1 and he is from 5.7 billion. Profits are therefore back for the Menlo Park firm after a rather complicated 2022 vintage. But among these positive results, observers noted, once again, that the metaverse division keep losing money.
Indeed, Reality Labs announces 4 billion losses over these first three months after the almost 14 billion from last year. However, Mark Zuckerberg is not worried about his metaverse. He does not intend to slow down his investments and the current losses are only temporary according to him:
“A narrative has developed that we’re going to stop focusing on our metaverse, so I just want to say up front that’s not accurate. We expected Reality Labs operating losses to increase year over year. »
The CEO is aware of the losses of the metaverse sector but this is a bet on the future which he had already set out at the end of last year. At the house of Meta, we are building the future despite the not necessarily favorable economic situation. And in this future, there is another area on which we are betting big in society and that is theartificial intelligence (IA).
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During the conference call around these results, Mark Zuckerberg claimed that artificial intelligence was the biggest investment of the company. Because this technology will go hand in hand, still according to the CEO, with the metaverse under construction:
“We have focused on both AI and Metaverse for years and will continue to focus on both. »
Because these two technologies are complementary! I’IA will be served by the metaverse and vice versa :
“Metaverse technology will also help deliver AI. For example, embodying AI agents will leverage the significant investment we’ve made in avatars over the past few years. »
Even if the products in development are not expected right away, we are very optimistic at Meta. The teams are aware that a lot of work remains to be done before they can offer truly futuristic experiences, said Mark Zuckerberg in conclusion. All of these announcements were rather well received since the stock jumped by more than 10% at the end of this earning call Q1.
Some critics of the little genius of Meta like to bury it as soon as the company slows down its profits. Likewise, there have been many mocked for his metaverse’s losses but in the meantime, he stays the course. Besides, the experiments in the web3 do not stop there since it would be a question of a decentralized social network in development in San Francisco Bay.
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