In addition, the share price of competitor Warby Parker also rose 4.3% due to news, indicating that the popularity of the smart glasses concept has increased.

Facebook parent company Meta spent US$3.5 billion (about S$4.5 billion) to acquire about 3% of the world's largest glasses manufacturer Essilor Luxottica Asia Pacific, to increase its investment in the smart glasses business driven by artificial intelligence (AI).

news was announced, the Asia-Pacific American Depositary Receipt (ADR) of Esilo Luxuntika once rose 6.9% to $148, the largest intraday gain since April 9. People familiar with the matter also revealed that Meta is considering further increasing its stake to about 5% in the future, but this plan may still change.

Esilo Luxuntika Asia Pacific is the parent company of well-known brands such as Ray-Ban and Oakley. In recent years, Meta has continued to cooperate with Meta to launch AI smart glasses. The two sides first launched Ray-Ban Stories glasses equipped with cameras and AI voice assistants in 2021, and last month they joined forces to release a new generation of Oakley brand smart glasses.

This investment move shows that Meta is accelerating its layout of wearable AI devices, reducing its dependence on smartphone platforms, and creating its own hardware ecosystem. Meta CEO Zuckerberg has said that smart glasses will become a key carrier for the company to develop artificial intelligence and immersive experiences.