China plans to build "three to five industrial clusters" focused on the metaverse by 2025, aiming to create a mature metaverse for industrial use and drive growth in manufacturing, with key technologies including blockchain, VR, augmented reality, and mixed reality.
Meta Platforms is bolstering its position as a contender in the artificial intelligence industry, aided by news of its ambitions in this rapidly growing sector, resulting in a rise in the company's stock and support from Nvidia.
Meta has launched its metaverse game, Horizon Worlds, on mobile and web in early access, while Magic Eden integrates compressed NFTs into its marketplace, Bitcoin Ordinals proposes changing the protocol's numbering system, and Atari founder criticizes play-to-earn gaming; meanwhile, the SEC charges Stoner Cats with offering unregistered securities.
Meta Platforms (META) stock has a strong setup, with two buy points in reach, ahead of this week's Connect conference where the parent company of Facebook and Instagram is set to unveil its new virtual-reality headset, generative AI tools, and more.
Meta Platforms CEO Mark Zuckerberg unveils new Ray-Ban smart glasses, AI products, and an updated virtual-reality headset as part of the company's metaverse expansion efforts.
Meta's product showcase for 2023 introduced the Quest 3 headset, the first mainstream mixed reality headset, with improved features such as full color passthrough, enhanced performance, and new controllers, while also announcing the arrival of Xbox Cloud gaming and the release of next-gen Ray-Ban smart glasses. Additionally, former Microsoft executive Panos Panay will head Amazon's Devices and Services division, Logitech unveiled a foldable racing cockpit chair, and Disney+ will restrict password sharing in Canada.
Meta emerges as the top contender and best stock option for investors looking to gain exposure to the growing virtual reality market, with its dominant market share, technological development, and strong financial health.
Meta CEO Mark Zuckerberg and AI researcher Lex Fridman showcased Meta's metaverse technology, including ultra-realistic avatars, during a podcast, demonstrating a sense of presence and intimacy that Fridman described as "incredible"; Meta is betting on the integration of AI into virtual and augmented reality to create a metaverse, with the goal of facilitating immersive social experiences and enhanced communication and connection through photorealistic avatars.
Meta Platforms, Inc. (NASDAQ:META) is expected to benefit from the AI wave and the personal AI assistant category, presenting a potentially large market opportunity for the company through advertising or subscriptions. Despite the continued spending on the Metaverse and the potential for AR/VR devices to be sold at a loss, Meta remains cheap compared to other tech giants, and the stock is poised for growth.
Meta is reportedly laying off employees in its Reality Labs division's silicon unit, which could impact the company's plans to develop augmented and virtual reality products, including AR glasses and immersive virtual worlds known as the "metaverse."
Meta is planning to release a follow-up to the Quest 3 and aims to compete with Apple's Vision Pro by introducing a VR headset without controllers next year, focusing more on practical uses like gaming and productivity rather than the metaverse.
Meta Platforms (META) stock has seen a significant rally in 2023, driven by analyst optimism over the upcoming Q3 earnings update and excitement over new technology, including smart glasses and virtual reality headsets, but there are concerns that growth expectations may be overly optimistic and there could be headwinds from consumer spending slowdown and privacy regulation.
The Meta Quest 3 and Apple's Vision Pro are mixed reality headsets with significantly different price points and target audiences, but while Meta dominates the market in terms of market share, Apple's entry into the space has garnered considerable attention and increased competition.
Meta is gearing up to compete against Apple in the mixed-reality headset market, with employees reportedly feeling the pressure as they enter the "afraid of Apple" stage, while Apple positions its Vision Pro as a productivity and entertainment device with gaming as an added bonus.
China Daily, an English-language newspaper owned by the Chinese Communist Party, is planning to create its own metaverse and NFT platform, with the aim of promoting Chinese civilization and utilizing technologies such as blockchain, NFTs, VR, AR, and more. The platform will also be integrated with popular NFT platforms like Opensea and LooksRare.
Meta CEO Mark Zuckerberg discussed the company's metaverse strategy at the Meta Connect 2023 event, highlighting the importance of AI in their products and partnerships with Qualcomm. The newly announced Quest 3 headset offers improved features but faces challenges due to its higher price compared to its predecessor. Meta's Ray-Ban smart glasses have seen improvements and the company is focused on expanding its services and enterprise applications. AI is also a key focus for Meta, with the inclusion of AI assistants and the establishment of an AI Studio for developers. Overall, Meta aims to deliver high-quality hardware and improve user experiences in the XR space.
