Meta Buys 3% Stake in EssilorLuxottica for AI Wearables

Meta Platforms has acquired a nearly 3% minority stake in EssilorLuxottica, valued at about €3 billion ($3.5 billion), to bolster its presence in the AI-powered wearable technology market. The investment builds on their collaboration on Ray-Ban Meta smart glasses, which launched in 2023, and the recent introduction of Oakley Meta HSTN smart glasses. Meta is considering increasing its stake to approximately 5%, though no final decision has been made. The deal is part of Meta's broader push into AI infrastructure and wearable technology, aiming to attract new users with advanced AI features. EssilorLuxottica plans to expand smart glasses production and deepen its partnership with Meta across more brands. The announcement led to a significant rise in EssilorLuxottica's share price, reflecting investor optimism.