Meta buys $3.5B stake in Ray-Ban maker EssilorLuxottica to fuel AR push
Meta just acquired a $3.5 billion stake in EssilorLuxottica, the luxury eyewear maker behind its smart glasses. The roughly 3% stake could rise to 5% over time as Meta prepares to launch smart glasses under the Oakley brand. It is a massive financial bet on Mark Zuckerberg's belief that smart glasses will eventually overtake smartphones.