U.S. Stock Movement | Meta rises nearly 2% as the company reportedly invests $3.5 billion to enhance its AI smart glasses business
On Wednesday, Meta rose nearly 2%, closing at $734.34. On July 9, sources revealed that Meta spent €3 billion (approximately $3.5 billion) to acquire about 3% of the shares of EssilorLuxottica, the parent company of Ray-Ban glasses, to strengthen its AI smart glasses business. The sources also disclosed that Meta is considering further increasing its stake to about 5% in the future, but this plan may still change. Meta CEO Mark Zuckerberg has stated that smart glasses will be a key vehicle for the company's development of artificial intelligence and immersive experiences
According to Zhitong Finance APP, on Wednesday, Meta (META.US) rose nearly 2%, closing at $734.34. On July 9, sources revealed that Meta spent €3 billion (approximately $3.5 billion) to acquire about 3% of the shares of EssilorLuxottica, the parent company of Ray-Ban glasses, to strengthen its AI smart glasses business. Sources also disclosed that Meta is considering further increasing its stake to about 5% in the future, but this plan may still change. Meta CEO Mark Zuckerberg has stated that smart glasses will be a key vehicle for the company's development of artificial intelligence and immersive experiences
