Latest News

Privacy watchdog to refocus on "systemic harms and market practices"

US Treasury, federal housing agency ending use of Anthropic products

Amazon's AWS reports outage after UAE data centre struck by 'objects'

Telstra pushes forward with agentic AI plans

How digital pharmacy platforms are redefining healthcare in Australia

Meta to cut up to 30 percent of metaverse budget

By Staff Writer

Dec 5 2025 6:19AM

"Smart move, just late."

Meta to cut up to 30 percent of metaverse budget

Meta is expected to make budget cuts of up to 30 percent for its metaverse initiative, Bloomberg News reported, citing people familiar with the discussions. The Facebook parent's shares rose four percent as the move eased some investor jitters over a bet that CEO Mark Zuckerberg has backed with ...

Hi! You've reached one of our premium articles. This is available exclusively to subscribers.

It's free to register, and only takes a few minutes.

Once you sign up you'll have unlimited access to the full catalogue of Australia's best business IT content, as well as a daily news bulletin delivered straight to your inbox.

Register now

Already have an account? Log in to read this article.

Got a news tip for our journalists? Share it with us anonymously here.

© 2019 Thomson Reuters. Click for Restrictions.

Tags:

emerging tech meta metaverse

Partner Content

Local Technology Infrastructure Is Key to Australia’s Artificial Intelligence-Enabled Future

Promoted Content Local Technology Infrastructure Is Key to Australia’s Artificial Intelligence-Enabled Future

ctrl:cyber strengthens sovereign cyber capability with elevenM acquisition

Promoted Content ctrl:cyber strengthens sovereign cyber capability with elevenM acquisition

Overcoming the “last mile” problem in AI adoption with Lucid Software

Promoted Content Overcoming the “last mile” problem in AI adoption with Lucid Software

Security for smart devices – time to step forward because there's nowhere to hide

Promoted Content Security for smart devices – time to step forward because there's nowhere to hide

Sponsored Whitepapers

Uncomplicate IT Service Delivery with AI Agents

Uncomplicate IT Service Delivery with AI Agents

Getting ahead of the tech: what’s next for Australian organisations in digital transformation

Getting ahead of the tech: what’s next for Australian organisations in digital transformation

Fintech compliance made fast and secure

Fintech compliance made fast and secure

How to evaluate SIEM solutions Safeguarding your future Get a demo Download guide

How to evaluate SIEM solutions Safeguarding your future Get a demo Download guide

2025 Security operations insights: Three-quarters of security leaders need something new in SIEM

2025 Security operations insights: Three-quarters of security leaders need something new in SIEM

Events

Most Read Articles

CBA to spend $90m to prepare its workforce for AI's influence

CBA to spend $90m to prepare its workforce for AI's influence

Superloop has AI handling most of its customer service

Superloop has AI handling most of its customer service

CBA finds its first chief AI officer

CBA finds its first chief AI officer

Westpac Intelligence Layer breaks cover

Westpac Intelligence Layer breaks cover

Sydney-based AI-cloud waste startup raises $3m

Sydney-based AI-cloud waste startup raises $3m

Brennan uses NiCE to modernise its contact centre

Brennan uses NiCE to modernise its contact centre

Impact Awards: Tecala slashes customer response times for fintech IQumulate

Impact Awards: Tecala slashes customer response times for fintech IQumulate

Interactive introduces private cloud platform

Interactive introduces private cloud platform

Digital61 expands cybersecurity portfolio

Digital61 expands cybersecurity portfolio

Most popular tech stories