U.S. tech giant Meta (META) has opened a new research laboratory in Cambridge in the U.K. as it eyes further AI glasses growth.
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Acoustic Chambers
The $16 million audio research center comes on top of reports that the Facebook and Instagram owner has purchased a minority stake in Oakley and Ray-Ban owner EssilorLuxottica (ESLOY), the world’s largest eyewear business.
It is reported the company’s stake will be worth around $3.5 billion and represent just under 3% of the Paris-based business.
Meta said the new lab was designed to “advance spatial audio and machine learning for Meta’s future AI glasses.” The facility includes “reverb rooms and ultra-quiet acoustic chambers” in order to hone the audio quality of its products under development.
Joel Kaplan, chief global affairs officer for Meta, said: “We want the brightest minds to make sure our smart glasses have the smartest AI-powered audio so you can focus on what you’re listening to no matter what’s going on around you. I can’t wait to experience the results of the work the lab produces.”
Big Bet
Meta is making a big bet on smart wearable technology and early signs are encouraging. Its Ray-Ban Meta smart glasses sold over 2 million units by February after launching in October 2023. In June, Meta expanded its smart eyewear lineup with new Oakley Meta glasses that were designed for athletes and fitness-focused users.
“Meta’s Oakley collaboration could be very exciting since wearable technology in fitness is already tried and tested and has seen some huge successes such as smartwatches and fitness trackers. Fashion wearable tech might be more of an uphill climb,” said Victoria Scholar, head of investment at interactive investor.
It is a large market to target. The global smart glasses market size was estimated at $1.93 billion in 2024 and is projected to reach $8.26 billion by 2030.
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