Meta shuts down AR studio to prioritize investing in AI
Meta Platforms has decided to close its Augmented Reality (AR) studio to prioritize investments in other areas, including the thriving Artificial Intelligence (AI) business. The closing of Meta Spark studio is scheduled to end operations on January 14, 2025. This studio provides developers with digital filter creation capabilities used across Meta's various social platforms. Despite the studio closure, Meta will continue to offer AR effects and shift resources to projects for new generation devices such as glasses
According to the financial news app Zhitong Finance, Meta Platforms (META.US) will shut down an augmented reality (AR) studio to prioritize investment in other areas, including the thriving artificial intelligence (AI) business.
The studio, named Meta Spark, allowed developers to create digital filters and apply them to video content on Meta's Facebook, Instagram, and Messenger apps. Meta stated in a press release on Tuesday that the studio will close on January 14, 2025, but Meta will still offer AR effects created internally.
The company also stated, "After careful consideration, Meta has decided to prioritize investment in other key projects. With the closure of the Meta Spark platform, we will also shift resources to the next generation of experiences, such as new form factors like glasses."
As of January this year, Meta has incurred losses of around $50 billion in AR and virtual reality (VR) products. So far, the company has struggled in the sales of VR and AR devices, including headsets.
Recently, Meta has shifted its focus to artificial intelligence. CEO Mark Zuckerberg has mentioned that AI will be the company's biggest investment area this year, with plans to invest up to $40 billion in infrastructure supporting the technology, including hardware, data centers, and servers