From Zoox to AR and VR, Tech Firms Are Still Splurging on Pet Projects - The Information

You mightiness think, with headlines blaring quality of wide layoffs by Meta Platforms, Amazon and different tech companies successful the past fewer weeks, that large tech has heard the connection from investors and has started to chopped back. Not truthful fast.

A speedy reappraisal of what companies similar Amazon and Meta Platforms are up to shows that they’re inactive expanding their spending connected their favourite initiatives, contempt the cuts. Amazon, for instance, volition boost spending connected its self-driving car improvement unit, Zoox, successful 2023, which is already soaking up adjacent to a cardinal dollars a year, said 2 radical acquainted with the situation.

Meta not lone volition importantly summation spending astatine its Reality Labs division, which is dedicated to its metaverse vision, but is pouring wealth into artificial quality for advertizing and concern messaging. Alphabet’s Google, for its part, has said it volition proceed to put successful its Google Cloud unit, whose losses person grown successful the past mates of quarters adjacent arsenic its gross has increased. Google is besides spending much connected processing smartphones and different user devices.