How does Meta’s “year of efficiency” square with pouring ever more money into a lossmaking endeavour with limited public appeal? The latest metaverse-related quarterly operating loss takes the bill to nearly $43bn. By the end of this year it could approach $50bn.
The real total is even larger. It could include the $2bn cost of buying virtual reality company Oculus in 2014.
Meanwhile, Meta is ramping up spending on the data centres needed to power artificial intelligence applications. Net property and equipment assets have more than doubled since 2019 to almost $88bn.
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