Meta Pulls Horizon Worlds From Quest In Metaverse Retreat: Report

• However, the company said that users would be able to continue accessing the virtual worlds on the Meta Horizon mobile app.
• In January, Meta began laying off employees in its Reality Labs division to focus on mobile phone experiences rather than on fully immersive virtual worlds.
• Meanwhile, at Reality Labs, Meta is focusing on wearable products that will bolster Meta’s AI ambitions, including the Ray-Ban Meta glasses.

Meta Platforms Inc. (META) reportedly said on Tuesday that Quest users will not be able to access Horizon Worlds, a move that indicates the company’s retreat from metaverse.

According to a report from Bloomberg, the company said that from June 15, customers would not be able to build, publish or update worlds on the virtual reality destination, or access Meta Horizon Worlds on Meta Quest headsets.

However, the company said that users would be able to continue accessing the virtual worlds on the Meta Horizon mobile app.

Shares of META closed down 0.76% on Tuesday. 

Pivot Away From Metaverse

The announcement comes amid Meta’s shifting focus to next-generation artificial intelligence from founder Mark Zuckerberg’s Metaverse vision.

In January, Meta began laying off employees in its Reality Labs division, which includes headsets and virtual reality offerings. The company cut back 1,000 people from the division. Chief Technology Officer Andrew Bosworth, who also heads Reality Labs, had reportedly said at the time that Meta’s focus would be on mobile phone experiences rather than on fully immersive virtual worlds.

Over the weekend, a Reuters report said that the tech giant was considering slashing about 20% of its workforce, or about 16,000 jobs, to offset costs related to its AI infrastructure investments, and to accommodate for the higher efficiency from AI assistance.

Meanwhile, at Reality Labs, the company is focusing on wearable products that will bolster Meta’s AI ambitions, including the Ray-Ban Meta glasses.

How Did Stocktwits Users React?

On Stocktwits, retail sentiment around META shares was in the ‘bullish’ territory at the time of writing. Meanwhile, message volumes were in the ‘high’ territory.

Meanwhile, META stock has declined more than 4% this year.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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