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.

Meta, which changed its name from Facebook to align itself with the metaverse, has poured billions into building out its vision for virtual worlds over the past few years. But CEO Mark Zuckerberg has since shifted the company’s focus to developing AI superintelligence with a series of high-profile hires. It most recently added former Apple UI designer Alan Dye to its team, who will oversee the design of “hardware, software and AI integration for its interfaces.”