Meta is still burning money on AR/VR

Meta reported another roughly $4 billion quarterly loss at Reality Labs, pushing cumulative AR/VR losses to $83.5 billion.

The company also forecast 2026 capital spending of $125 billion to $145 billion as it expands AI infrastructure and hiring.

Shares fell in after-hours trading as investors worried that rising costs could pressure future profitability.

The update highlights how Meta’s long-running AR/VR bets are still dragging on results even as the company shifts harder into AI.