Meta Stock Surges on Plans for Metaverse Cuts | Bloomberg Tech 12/4/2025

Moore Threads Technology Co., a prominent Chinese AI chipmaker, commenced trading on the Shanghai stock exchange, marking the second-largest initial public offering (IPO) in China this year. This significant event underscores the growing interest and investment in the AI sector within the country.

Meta is set to reduce its metaverse unit budget by 30%, a significant cut that reflects a strategic shift under CEO Mark Zuckerberg as the company reassesses its financial priorities. This decision comes amid ongoing scrutiny and challenges in demonstrating profitability in its ambitious metaverse project.

Minda Smiley, a senior analyst at EMARKETER, expressed that she is not surprised by Meta's decision to cut resources for its metaverse unit, highlighting the company's ongoing challenges in monetizing this venture. This discussion took place during an interview on Bloomberg Tech with Caroline Hyde and Ed Ludlow.

UiPath's CEO Daniel Dines reported accelerating growth during the company's third quarter earnings call, emphasizing that artificial intelligence (AI) serves as a complement to their existing automation solutions. This discussion took place on Bloomberg Tech with hosts Caroline Hyde and Ed Ludlow.

Meta is set to significantly reduce its investment in the metaverse, with CEO Mark Zuckerberg announcing a strategic shift that includes a 30% budget cut for the metaverse unit. This decision marks a departure from Zuckerberg's earlier vision of the metaverse as a central focus for the company's future growth.

Snowflake has announced a multi-year agreement worth $200 million with Anthropic to integrate its Claude AI models into its platform, enhancing the deployment of AI agents across enterprises. This investment underscores Anthropic's growing influence in the generative AI sector.

AMD CEO Lisa Su addressed concerns regarding a potential AI bubble during WIRED's Big Interview event, stating that such worries are exaggerated and asserting confidence in the AI chip market's growth. She emphasized that from her perspective, the AI sector is not experiencing a bubble.

Meta Platforms Inc. is set to cut its metaverse unit budget by up to 30%, a significant reduction that reflects a strategic shift under CEO Mark Zuckerberg. This decision marks a departure from Zuckerberg's earlier vision of the metaverse as a key future direction for the company, which was a major factor in its rebranding from Facebook Inc.