Drew Angerer/Getty Images News

Drew Angerer/Getty Images News

Meta Platforms (NASDAQ:META ) CEO Mark Zuckerberg promised a "big step forward" into the metaverse as he opened his keynote speech at the Meta Connect conference, the company's event focused on developers, creators and technology. Along with an update on the company's ecosystem, Meta is expected to roll out its high-end "Project Cambria" VR/mixed reality headset.

(It was last year's event, then known as Facebook Connect, where Zuckerberg laid out an extensive vision for the company's pivot into the metaverse.)

"I think that this is some of the most amazing technology of our generation," Zuckerberg said at the start of this year's keynote. "It's going to open up opportunities to build incredible things. We believe in this vision so deeply that we renamed our whole company after it."

One in three apps on the Meta Quest platform are making revenues in the millions, Chief Technology Officer Andrew Bosworth said. Some 33 titles have made more than $10M in gross revenue (up from 22 in February), and the number of apps making more than $5M has doubled year-over-year.

Shortly after Zuckerberg started speaking, Meta stock (META) was down 2.3% on the day even as the broader market turned higher. The stock faced a downgrade at Atlantic Equities earlier.

Updated 1:33 p.m.: The Cambria headset is here, branded the Meta Quest Pro. "Quest Pro is the first in our new line of advanced headsets, built to expand what's possible in VR," Zuckerberg said. "It takes what people love about Quest and adds a bunch of new technologies to help you do more in the metaverse."

The Pro looks like a more streamlined version of the Quest headset, and features an open periphery to make it easier to see the world outside, though it comes with attachable light blockers for a more immersive approach.

The headset's displays have 37% more pixels per inch than the Meta Quest, and 75% more contrast, Zuckerberg said.

Updated 1:40 p.m.: The Quest Pro is priced at $1,499, is available for preorder now, and ships Oct. 25.

Updated 1:53 p.m.: "Next year, we'll launch Quest for Business, which is currently in beta," Zuckerberg said. "It's a subscription bundle for Quest 2 and now Quest Pro that includes a suite of features like work accounts, device and application management, premium support and more."

Zuckerberg brought in Microsoft (MSFT) CEO Satya Nadella to discuss integration of Microsoft Teams, Office, Windows, and Xbox Cloud Gaming.

"We've been thinking about how to bring the power of Microsoft 365 and Windows 365 to 3-D spaces to really help drive productivity and enable you to create, communicate and collaborate in completely new ways," Nadella said.

With Windows 365 coming to the Meta Quest platform, "this is going to be great for anyone who wants to build out their virtual office on Quest Pro, still have a great Microsoft Teams experience through VR, a way to join teams meetings and work rooms," Zuckerberg said.

Updated 2:25 p.m.: With Zuckerberg wrapping up his keynote, Meta stock (META) is down 2.9% Tuesday afternoon.