Meta Platforms, the parent company of Facebook, has introduced its first working prototype of augmented-reality glasses named Orion. During a recent event, CEO Mark Zuckerberg showcased the glasses, emphasizing their potential to merge the virtual world with reality. “This is the physical world with holograms overlaid on it,” he stated, describing the glasses as a “time machine” that offers a glimpse into an exciting future.
In addition to the Orion glasses, Meta revealed advancements in AI chatbot capabilities and launched a new Quest mixed-reality headset. The company's shares closed at a record high of $568.31, reflecting positive investor sentiment.
Constructed from magnesium alloy and powered by custom silicon, the Orion glasses allow users to interact through hand-tracking, voice commands, and a wrist-based neural interface. Zuckerberg noted plans to make the device smaller, sleeker, and more affordable before its consumer release, projected for 2027.
While Big Tech has pursued AR devices, many previous attempts, such as Google Glass, have not succeeded. Zuckerberg aims to make AR technology accessible to a mass audience, despite ongoing challenges in development and consumer acceptance of AI.
Additionally, Meta plans to enhance its Ray-Ban Meta smart glasses with new features like video generation and real-time language translation. The AI assistant, Meta AI, will now offer voice responses and celebrity voice options, enhancing user interaction.
Meta is also launching an entry-level Quest mixed-reality headset, the Quest 3S, priced at $300, and reducing the cost of the Quest 3. The company has invested heavily in AI and AR technologies, projecting capital expenses for 2024 to reach between $37 billion and $40 billion. Reality Labs, Meta’s metaverse division, reported significant losses, totaling $8.3 billion in the first half of this year.
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