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
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