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Meta Invests $3.5B in Ray-Ban, Oakley Maker to Create AI Smart Glasses
Meta has reportedly invested $3.5 billion in EssilorLuxottica, the eyewear company that owns Ray-Ban and Oakley. The two companies have been in partnership since 2020, collaborating on glasses featuring artificial intelligence technology.
Meta Invests $3.5 Billion in Ray-Ban Maker EssilorLuxottica in AI Glasses Push
The advance of as much as 5.5 percent on Wednesday gave EssilorLuxottica a market value of EUR 116.5 billion (roughly Rs. 11,68,623 crore). Warby Parker, a competing glasses-maker, rose 4.5 percent in the US on Tuesday after Bloomberg's report.
Meta Platforms is looking to deepen its relationship with its smart-glasses partner as part of a new vision of the Metaverse.
Meta Expands AI Glasses Options in New Partnership with Oakley originally appeared on L.A. Mag.
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