Reality Inc., a privately owned company founded in 2018 and headquartered in Japan, produces augmented and virtual reality experiences. Previously known as Wright Flyer Live Entertainment, the company focuses on the creation and delivery of AR and VR content.
Meta Platforms announced plans for cutbacks in its Reality Labs division. On an unspecified date, Reality Labs Chief Scientist Michael Abrash discussed progress in virtual and augmented reality, referencing predictions made at Connect in 2016. Separately, EV Reality, a different company, secured $75 million in growth funding on an unspecified date to expand operations and development. Meta Platforms also announced plans for significant investment in artificial intelligence and infrastructure, projecting capital expenditures between $66 billion and $72 billion for 2025.
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