Meta is shifting some of its investments in the metaverse to AI glasses and wearables, hoping to capitalise on the "momentum" in that segment, a company spokesperson has said.

Meta wants to make its AI hardware slicker and more fashion-forward. It also needs to make its software more usable. The way to do all that appears to be hiring design maestros away from Apple.

Meta may slash its budget for metaverse projects by up to 30 percent next year, according to a report from Bloomberg. Sources tell the outlet the potential cuts haven’t been finalized, but they would impact the unit that works on Meta’s Quest virtual reality headsets, along with its social platform Horizon Worlds.

“Steve Lemay has played a key role in the design of every major Apple interface since 1999,” Chief Executive Officer Tim Cook said in the statement. “He has always set an extraordinarily high bar for excellence and embodies Apple’s culture of collaboration and creativity.”

Meta acknowledged that its "support hasn’t always met expectations" but that a series of AI-powered updates should make it easier for people to get help.

Jennifer Newstead led Meta's legal team through major regulatory battles, including an FTC antitrust win.

Apple Inc. hired Meta Platforms Inc. Chief Legal Officer Jennifer Newstead as its general counsel, part of a wave of executive changes at the iPhone maker.

Gene Munster, Deepwater Asset, joins 'Fast Money' to talk Meta's reported plans to make cuts in its Metaverse division.