"Three years ago, Mark Zuckerberg said the word "metaverse" eight times on Meta's third-quarter earnings call. This time around, he didn't say it once. On Meta's earnings call on Wednesday, analysts asked CEO Mark Zuckerberg and CFO Susan Li about the state of the business. The executives spoke extensively about cap-ex, compute, and advertising tech. The metaverse - a peak priority a few years ago - was the most glaring omission. Horizon, Meta's virtual reality platform, also went unsaid."
"Meta isn't giving up on its metaverse push. In a recent memo viewed by Business Insider, CTO Andrew Bosworth told employees about a shake-up in the division. "The priority of the metaverse work remains unchanged, and it continues to be a companywide priority," he wrote. Bosworth had previously told Meta staff that this year would be the "most critical" to prove the metaverse is either a visionary feat or a "legendary misadventure," according to an earlier memo viewed by Business Insider."
The words "compute", "capacity", and "novel" dominated Meta's third-quarter earnings call. The word "metaverse" did not appear, and Horizon went unmentioned. "Compute" was referenced 22 times across executives; "infrastructure" and "capacity" were each referenced 12 times. Meta raised 2025 capital-expenditure guidance and signaled higher AI-related spending in 2026 to expand compute power and AI infrastructure. Investors reacted negatively, driving Meta shares down by double digits. CTO Andrew Bosworth characterized the year as critical to determine the metaverse's fate while stating the metaverse work remains a companywide priority.
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