Vuzix (VUZI) said Tuesday it has acquired a waveguide research and development facility in Milpitas.

The facility will allow the creation of waveguide designs that will be used to back the development of artificial intelligence-enabled smart glasses, the company said.

The total cost of the expansion will be in the "low seven figures" this year, Vuzix said.

The company's shares were rising 2.6% in recent trading.

Price: 2.00, Change: +0.05, Percent Change: +2.36