Key highlights from big tech news this month:

• Meta’s Reality Labs hardware teams have been asked to cut spending by nearly 20% between now and 2026, as Meta reins in spending on its AR/VR division.
• Google’s potential $23 billion purchase of cloud security startup Wiz would return at least $7 billion for the startup's top 5 investors.
• A global outage sparked by a faulty software update pushed by CrowdStrike is prompting some large customers to mull switching to rivals.

Google and Meta

Exclusive Reality Comes to Meta’s Reality Labs By Wayne Ma and Kalley Huang

AI Agenda What Meta's Largest Llama Model is Missing By Kalley Huang

Exclusive The Biggest Winners From Wiz’s Potential $23 Billion Sale to Google By Kate Clark, Natasha Mascarenhas and Aaron Holmes

The Briefing Google’s Shrinking Ad-Tech Business By Martin Peers

Other News

Exclusive CrowdStrike Crisis Gives Rivals Opening to Pounce By Aaron Holmes

Exclusive Eric Schmidt’s Split With Advisor Reveals Complex Deals With Ex-Girlfriends By Michael Roddan and Cory Weinberg

The Big Read Fear and Longing in Sun Valley By Nick Wingfield

Exclusive Apple Moves Forward With Foldable iPhone By Wayne Ma and Qianer Liu