According to reports, Meta Platforms has purchased a 3% stake in EssilorLuxottica, aiming to boost its AI wearable technology offerings. Key highlights:
• Meta’s investment valued at approximately 3 billion euros.
• Meta eyes potential increase in stake to 5%.
• EssilorLuxottica plans to expand smart glasses production.
• Meta’s collaboration with Oakley for AI smart glasses.
The development signifies Meta’s strategic move into the AI wearable market and could impact the Indian tech landscape with potential advancements in wearable technology and consumer preferences.
Source: Business News Today, Latest Finance News | The Hindu