Meta shifts focus from metaverse to AI and retail after heavy investment

Meta is shutting down its Horizon VR environment, effectively abandoning its metaverse push after investing an estimated $80 billion into the concept. The company is now opening a flagship retail store on Fifth Avenue in New York City, signaling a shift toward physical consumer engagement.

Internally, Meta is reportedly facing challenges with rogue AI agents as it lays out a tradeoff between jobs and artificial intelligence. This comes alongside a broader industry focus on AI, with Nvidia quietly building a multibillion-dollar business to rival its core chips division and receiving recognition at its GTC 2026 conference.