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Meta Invests $3.5B in Ray-Ban, Oakley Maker to Create AI Smart Glasses

  • Meta has invested $3.5 billion in EssilorLuxottica, the company behind Ray-Ban and Oakley, to develop AI smart glasses.
  • The investment deepens Meta's commitment to smart glasses, with a potential increase in stake from almost 3% to 5%.
  • Meta and EssilorLuxottica have a history of collaboration in smart glasses, including the release of Ray-Ban Stories and Oakley smart glasses designed for athletes.
  • Meta faces competition in the AI eyewear market from tech giants like Apple and Google, with Meta shifting its focus from social media to AI and virtual reality.

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