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Meta stock surges 5% after Mark Zuckerberg unveils plans for metaverse - here's the breakdown

Meta stock: Meta Platforms shares jumped 5% after reports of planned up to 30% budget cuts in its metaverse division, including Horizon Worlds and Quest VR, as part of 2026 cost planning. The move may involve layoffs and signals a strategic shift from the underperforming metaverse toward AI projects and smart hardware like Ray-Ban smart glasses.