Meta is discussing taking a stake of as much as 5 percent of EssilorLuxottica, which makes eyewear brands like Ray-Ban and Oakley, people with knowledge of the talks said.
Meta has suspended the use of its AI assistant after Brazil's National Data Protection Authority (ANPD) banned the company from training its AI models on personal data from Brazilians. The move puts a dent in Facebook's attempt to build out its AI products in Brazil, a market with more than 200 million people.
Meta is reportedly looking to buy a stake in its smart glasses partner EssilorLuxottica. The tech company is in talks to acquire a 5% stake in the eyewear maker, which owns the Ray-Ban brand, The Wall Street Journal (WSJ) reported Thursday (July 18), citing unnamed sources.
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Meta Platforms (NASDAQ: META ) stock is reportedly in talks to acquire a stake in EssilorLuxottica (OTCMKTS: ESLOY ), the maker of Ray-Ban, Oakley and Oliver Peoples eyewear. According to this report, Meta is going to spend $5 billion to acquire a 5% stake in the eyeglasses company.
Meta on Thursday said it would delay the release of its most powerful generative AI models in Europe because of what it called unpredictable EU regulation.
Meta Platforms Inc. is in talks to pay nearly $5 billion for a 5% stake in France-based eyeglass giant EssilorLuxottica SA, which sells brands including Ray-Ban, Oakley and Oliver Peoples, according to a report in The Wall Street Journal.
Meta is reportedly in talks to buy a small stake in the French-Italian eyewear giant that owns Ray-Ban, Oakley, and Supreme.
Meta Platforms has more than 3 billion daily active users. The company can take advantage of multiple growth paths.
Meta Platforms Inc META suffered under the wake of a broader technology sector rout, with presidential candidate Donald Trump suggesting that Taiwan should compensate the U.S. for its defense. As for the tech powerhouse, while Wall Street analysts are overwhelmingly bullish on META stock, concerns about forward viability have started to impact the current price action.
The metaverse market is one that's hard to digest. On the one hand, this space was supposed to be a fast-growing market with diverse platforms providing varying new innovative capabilities.
Meta Platforms said on Wednesday it decided to suspend use of generative artificial intelligence tools in Brazil in response to the government's objections to its new privacy policy regarding personal data and AI.