Meta facing a tough phase in producing its AI projects due to 30% layoffs in the recent times

Fahad Hussain

For Meta, this is a difficult time. Investors' concerns about the company's ambitious metaverse project absorbing too many resources without producing a return are mounting. With Meta layoffs 2023, the business has invested more than $10 billion annually in creating the interactive universe. However, its Reality Labs division, which lost $13.72 billion in the previous year, recorded a $3.99 billion operating loss in its first-quarter earnings this month. With failure in such projects, Mark Zuckerberg has decided to use Meta knowledge in AI to grow. With competitors such as ChatGPT and Google, it is hard to say if it’s a good idea. The company is all set to introduce and teach how to use Meta AI, LLaMA. Lets see how this turns out.

03:48 PM 21 Jun, 2023