Meta Platforms (META) acquired close to a 3% stake in Ray-Ban maker EssilorLuxottica for $3.5 billion to advance the development of artificial intelligence glasses, Bloomberg reported Tuesday, citing sources.
Meta is mulling further investments in EssilorLuxottica to increase its stake to around 5% but plans could change, people familiar with the matter told Bloomberg.
Meta didn't immediately respond to a request for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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