Shares of Meta Platforms (NASDAQ:META) rose 3.6% after reports indicated significant budget cuts for its metaverse division, Reality Labs, which has lost over $70 billion since 2021. The company plans to reduce spending by up to 30% in 2026, shifting focus to artificial intelligence (AI) projects. Investors reacted positively, pushing shares to close at $661.70. Meta is up 10.5% year-to-date, but still 16.1% below its 52-week high. The market sees the news as meaningful, signaling a pivot away from heavy metaverse investments. Meta’s push into AI is expected to drive future spending, emphasizing financial performance improvement.

Read more at StockStory Media: Meta (META) Stock Is Up, What You Need To Know