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Apple CEO Tim Cook dinner Hints At Metaverse Funding

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Tim Cook dinner, CEO of tech large Apple, has hinted that the metaverse has arrived on his radar and that the corporate exploring the know-how.

In Apple’s newest earnings name, a Morgan Stanley consultant requested Cook dinner if he was “fascinated by the Metaverse alternative and Apple’s function in that market.”

Cook dinner mentioned:

“Nicely, that’s an enormous query, however we’re an organization within the companies innovation so we’re all the time exploring new and rising applied sciences and I’ve spoken at size about the way it’s very attention-grabbing to us proper now. We’ve got over 14,000 AR Equipment apps within the App Retailer which offer unbelievable AR experiences for tens of millions of individuals in the present day. So we see a whole lot of potential on this house and are investing accordingly.”

In a possible response to Cook dinner’s phrases, Apple’s inventory spiked in after hours buying and selling, although APPL has largely closed the hole since in the present day’s open.

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Picture by way of Shutterstock

Cook dinner’s hints are solely the most recent in a wave of tech giants eyeing up the metaverse.

Earlier within the month, Microsoft bought gaming titan Activision for $95 a share in a $69 billion money deal. In a press release, Microsoft mentioned the acquisition was meant to “speed up the expansion in Microsoft’s gaming enterprise throughout cell, PC, console and cloud and can present constructing blocks for the metaverse.”

Microsoft CEO and chairman Satya Nadella mentioned “Gaming is essentially the most dynamic and thrilling class in leisure throughout all platforms in the present day and can play a key function within the improvement of metaverse platforms.”

In the meantime, social media large Fb devoted a whole rebrand to the metaverse, altering its identify to ‘Meta’ and placing an enormous concentrate on the blossoming house. In accordance with Enterprise Insider, Meta has nearly made $3 billion in gross sales on its new metaverse.

In July, Fb CEO Mark Zuckerberg mentioned:

“We are going to successfully transition from individuals seeing us as primarily being a social media firm to being a metaverse firm.”

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