In its first-quarter earnings report, Meta revealed that its Reality Labs division recorded an operating loss of $4.03 billion, while bringing in $402 million in sales. The company's Reality Labs unit, which builds virtual reality and augmented reality technology, has accumulated over $80 billion in total operating losses since late 2020. Despite being viewed as a laggard in AI, the company is investing heavily in infrastructure and new models and services to keep pace with competitors like OpenAI, Anthropic, and Google.