Meta Platforms reported a $4.5 billion loss in its metaverse division, Reality Labs, for Q2 2024, bringing the total losses to nearly $60 billion since 2019. Despite this, the company achieved a higher-than-expected revenue of $49 billion, a 22% increase from last year, and a profit of $13.5 billion, driven by advancements in AI and growth in apps like Threads and WhatsApp​ . Mark Zuckerberg emphasised that Meta's AI initiatives are showing success, with Meta AI on track to become the most used AI assistant by the end of 2024. He also noted the positive reception of AI-infused Ray-Ban Meta smart glasses. Meta plans to significantly boost its AI-related capital expenditure in 2025 to further develop its capabilities​. Despite the continued heavy losses from Reality Labs, Meta remains committed to investing in AR/VR product development. The company anticipates increased losses in this segment next year as it continues to advance its metaverse ecosystem​.