Tencent Shares Jump 4% as AI Models Move Toward Paid Commercial Services 
Boeing Wins Fraud Lawsuit Over 737 MAX Filed by LOT Polish Airlines 
PDG Explores $1 Billion Sale of China Data Center Assets 
OpenAI Expands Globally with First Overseas AI Lab in Singapore 
H.B. Fuller Eyes Advanced Medical Solutions in Potential £600M Takeover Deal 
Intuit Raises Full-Year Forecast After Strong Q3 Earnings Despite Stock Drop 
JPMorgan Sees Large-Cap Biotech Stocks Entering New Growth Phase in 2026 
X Corp Loses Legal Battle Over Australia Child Safety Fine 
SpaceX IPO Nears as Goldman Sachs Set to Lead Historic $75 Billion Offering 
Lam Research Expands AI-Powered Semiconductor Tools and Arizona Operations 
Texas Sues Meta Over WhatsApp Encryption Claims 
Samsung Shares Surge After Strike Deal Eases Labor Tensions 
OpenAI Wins Elon Musk Lawsuit as Jury Rejects Claims Over AI Mission 
OpenAI Eyes IPO Filing as Early as This Week Amid Rising AI Competition 
SoftBank Shares Surge as OpenAI IPO Buzz and SB Energy Filing Boost AI Optimism 
Meta has unexpectedly scrapped its plans for a premium mixed-reality headset designed to compete directly with Apple’s Vision Pro, marking a significant shift in the company’s virtual reality ambitions.
Meta Cancels Vision Pro Rival
According to The Information, a project that was supposed to be developed by Meta Reality Labs to build a premium headset that would compete with Apple's Vision Pro, which costs $3,499, has been scrapped.
According to the journal, the project was given the codename La Jolla, and it was planned to be released in 2027. The micro-OLED display technology that would have been used in the product would have been comparable to the technology that Apple employs in its headset.
In response to a request for comment, a spokesperson from Meta referred to a post on Threads in which the business mentioned that not all projects are successful.
"We have many prototypes in development at all times," there is a portion of the text that reads. "But we don't bring all of them to production. We move forward with some, we pass on others. Decisions like this happen all the time, and stories based on chatter about one individual decision will never give the real picture."
CEO Zuckerberg Shuts Down VR Initiative
The product was allegedly discontinued by the firm as a result of a meeting to examine it that was attended by Mark Zuckerberg, the chief executive officer of Meta.
CNET shares that although Meta continues to sell its less costly Quest 3 headset for $500, it has apparently decided to cease production of the headset as well as plans for a follow-up to its $999 Quest Pro. This decision was made in response to the company's disappointing sales.
The corporation has been optimistic on virtual reality and augmented reality technology ever since it purchased Oculus Labs in 2014, and it has spent billions of dollars on virtual reality and augmented reality technology.
Apple Faces Challenges with Vision Pro
Due to the fact that even Apple has struggled to attract a wide audience for its expensive headset product, which has fallen below forecasts, it is possible that large-scale spending is beginning to slow down.
