Meta Invests $3.5 Billion in EssilorLuxottica for AI Glasses (4)

Meta Platforms Inc. bought a minority stake in the world’s largest eyewear manufacturer, EssilorLuxottica SA, deepening the US tech giant’s commitment to the fast-growing smart glasses industry, according to people familiar with the matter.

Facebook parent Meta acquired just under 3% of the Ray-Ban maker, a stake worth around €3 billion ($3.5 billion) at market prices, said the people, who asked not to be identified because deliberations are private.

Meta, based in Menlo Park, California, is considering further investment that could build the stake to around 5% over time, the people added, though those plans could change.