Meta Platforms Inc's (NASDAQ:META, ETR:FB2A, SWX:FB) shares look set to open higher in New York trading after CEO Mark Zuckerberg unveiled new augmented reality (AR) glasses and updates at the company’s annual developer conference.
The glasses, named Orion, can project digital images, games, and communications into the real world. The company also introduced Meta AI updates, including a feature allowing users to interact with the AI assistant in celebrity voices like Judi Dench and John Cena.
The AR glasses are part of Meta's broader investment in AI and metaverse technologies, including its Quest 3S headset, set to launch in October. Meta is also expanding its AI offerings, releasing new versions of its Llama 3 models, which can process both images and text.
While the AR glasses won’t be available to consumers until 2027, Meta has seen success with its Ray-Ban smart glasses, which have become popular since integrating AI capabilities.
The company has invested heavily in these technologies, with plans to spend up to $40 billion on AI, AR, and the metaverse in 2024.
Ahead of the bell, the stock was up 1.7% at $577.80, which would add around $25 billion to Meta's valuation.
Meta also announced that its AI assistant can now speak in the voice of Dame Judi Dench, along with other celebrities, as part of its latest AI updates.