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That 4B # encompasses AI and Metaverse. Hard to tell where the $ is actually going (plus, metaverse requires AI advancement).

That’s one big reason the stock is up: $4B in the metaverse is nonsense. $4B in AI, though? Transformational

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It seems like VR is less than half of the investment by RL. In Meta's 2022 annual report, they say "Many of our metaverse investments are directed toward long-term, cutting edge research and development for products that are not on the market today and may only be fully realized in the next decade. This includes exploring new technologies such as neural interfaces using electromyography, which lets people control their devices using neuromuscular signals, as well as innovations in artificial intelligence (AI) and hardware to help build next- generation interfaces. ... *in 2023, we expect to spend approximately 50% of our Reality Labs operating expenses on our augmented reality initiatives, approximately 40% on our virtual reality initiatives, and approximately 10% on social platforms and other initiatives.*"

I'm not sure if Horizon falls into "virtual reality" or "social platforms" but it seems to be the latter: "For example, we have launched Horizon Worlds, a social platform where people can interact with friends, ..."

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