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Title: Meta Invests $3.5 Billion in World's Largest Eye-Wear Maker in AI
Glasses Push

Link: https://meta.slashdot.org/story/25/07/08/2147...

Meta has acquired a $3.5 billion stake in Ray-Ban maker EssilorLuxottica, "a
deal that increases the U.S. tech giant's financial commitment to the fast-
growing smart glasses industry," reports Bloomberg. From the report: Meta's
investment in the eyewear giant deepens the relationship between the two
companies, which have partnered over the past several years to develop AI-
powered smart glasses. Meta currently sells a pair of Ray-Ban glasses, first
debuted in 2021, with built-in cameras and an AI assistant. Last month, it
launched separate Oakley-branded glasses with EssilorLuxottica.
EssilorLuxottica Chief Executive Officer Francesco Milleri said last year
that Meta was interested in taking a stake the company, but that plan hadn't
materialized until now. The deal aligns with Meta CEO Mark Zuckerberg's
commitment to AI, which has become a top priority and major expense for the
company. Smart glasses are a key part of that plan. While Meta has
historically had to deliver its apps and services via smartphones created by
competitors, glasses offer Meta a chance to build its own hardware and
control its own distribution, Zuckerberg has said. The arrangement gives Meta
the advantage of having more detailed manufacturing knowledge and global
distribution networks, fundamental to turning its smart glasses into mass-
market products. For EssilorLuxottica, the deal provides a deeper presence in
the tech world, which would be helpful if Meta's futuristic bets pay off.
Meta is also betting on the idea that people will one day work and play while
wearing headsets or glasses.

Read more of this story at Slashdot.

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