![]() ![]() Priced starting at $499, the device will be 40% thinner than the company's previous headset and feature color mixed reality, which combines augmented and virtual reality (AR/VR) elements, Zuckerberg said in an Instagram post ahead of Meta's annual gaming conference. Meta Platforms CEO Mark Zuckerberg on Thursday revealed the company's next generation mixed reality headset, the Quest 3, as the company braces for Apple to potentially reshape a nascent market that Meta has dominated so far. The logo of Meta Platforms' business group is seen in Brussels, Belgium December 6, 2022. Wage inflation is slowing, as reported by ADP, while a Labor Department report said the price of labor per single unit of output rebounded at a 4.2% rate in the first quarter - a downward revision from the 6.3% growth pace estimated in May. The data will help determine whether the Fed sticks with its aggressive rate hikes. That could push the Fed to keep rates elevated.įocus now shifts to the Labor Department's closely watched unemployment report for May, due on Friday. The number of Americans filing new claims for unemployment benefits rose modestly last week, while private payrolls increased more than expected in May, pointing to a still tight labor market stock indexes closed up on Thursday as signs of slowing wage pressure on inflation raised hopes the Federal Reserve will pause raising interest rates in two weeks, and investors welcomed a vote in Congress to suspend the U.S. That said, as the trend heats up again, we may see more investors start to think about such metaverse efforts in a more positive light - not as a cash sink but as a growth initiative that could help power some serious appreciation.Traders work on the floor of the NYSE via REUTERS Meta may have been punished in the past for blowing billions on metaverse efforts. Further, it's not hard to imagine that many investors have stuck with Meta for its strong social-media business and its ability to monetize AI rather than its metaverse potential. In any case, the VR (virtual reality) and AR (augmented reality) markets look large enough that more than one winner will be minted from its rise over the next decade. Fintech innovators are feeling increasing pressure from the iPhone maker as it doubles down on its wallet ambitions. Of course, it's tough to compete against a proven tech behemoth like Apple. If it does, we might all hear about the Metaverse ad nauseam again, and that bodes well for the firms with skin in the game, most notably Meta Platforms. Many people that expect Apple ( NASDAQ:AAPL) will unveil its mixed-reality headset at some point during its WWDC 2023 conference, which kicks off on June 5. Looking ahead, the Metaverse may be due for a bit of a comeback. Many investors may have dismissed the Metaverse in favor of AI as the trend to bet on over the past six months. June Could be a Big Month for the Metaverse Meta isn't just a social media or metaverse company anymore it's a serious AI contender. Regardless, I still think many may be discounting the potential for AI to re-accelerate growth over the longer term. The monetization possibilities seem tough to fathom at this juncture. Undoubtedly, Meta's AI roadmap is impressive. Meta seeks to launch a new AI chip called the MTIA (Meta Training and Inference Accelerator) in 2025. Indeed, many big software companies have been hopping on the hardware bandwagon lately. Meta is also getting into the hardware game, with recent news of the firm's plans to develop custom chips tailored for AI. Indeed, Apple's privacy-focused iOS updates, which initially cost Meta dearly, may be to thank for pushing Meta to innovate its way out of a mess. Regardless, it's hard not to be impressed by Meta's ability to innovate through trying times. Only time will tell how Advantage+ and other AI offerings help jolt Meta's growth. The suite leverages AI to create multiple ad variations to help advertisers find the one that best sticks with any user. The company's Advantage+ suite of automation tools could change the landscape of the advertising world once again. With the power of AI, Meta may be able to increase the value of its ads without having to track users across the internet.
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