Meta’s metaverse business continues to post losses even as the company pours large amounts of money into AI, CNBC reported on April 29. Meta said its Reality Labs unit, which develops VR and AR technology and wearable devices, posted first-quarter revenue of $402 million and an operating loss of $4.03 billion. Wall Street had expected $488.8 million in revenue and a $4.82 billion loss. Cumulative operating losses have topped $80 billion since late 2020.

Meta work visa filings show the company has offered very high base salaries by role to secure AI and senior technical talent. An analysis of about 5,800 H-1B and other filings found a software engineer base salary as high as $450,000 and a research engineer at $400,000, with a product manager at $348,101. Most new hires clustered in the $150,000 to $250,000 range, while some AI roles stood apart.