Meta Platforms, the parent company of Facebook, introduced its first functional prototype of augmented-reality glasses, named Orion. CEO Mark Zuckerberg showcased the device at a live event, describing it as a glimpse into an exciting future where the physical world merges with virtual elements. “It’s the physical world overlaid with holograms,” Zuckerberg said after revealing the black, chunky glasses. He likened the device to a “time machine” that offers a preview of groundbreaking technology yet to come.
The Orion glasses, constructed from magnesium alloy, are powered by custom silicon chips developed by Meta. Users will be able to interact with the glasses using hand-tracking, voice commands, and a wrist-based neural interface. Zuckerberg mentioned that Meta is working to refine the design, making it more compact, stylish, and affordable for consumers, with plans to release the glasses by 2027.
Meta also unveiled other innovations, including upgraded AI chatbots for its platforms and a new Quest mixed-reality headset. The company’s shares hit a record high, closing at $568.31, reflecting positive market reactions to the announcements.
While AR technology has seen mixed success—such as Google’s Glass, which failed to gain traction—Zuckerberg remains committed to developing immersive products. He initially pivoted Meta towards building “metaverse” systems in 2021, although high development costs and technical challenges have slowed progress. Analyst Paolo Pescatore of PP Foresight acknowledged Meta’s determination to make AR and VR products mainstream but noted that users remain cautious about AI.
A source close to Meta revealed that technical advancements are expected to reduce production costs by 2027, when the first commercial version of the Orion glasses will be available. While Zuckerberg did not demonstrate the glasses’ full capabilities live, a video showcased user reactions, including a cameo from Nvidia’s CEO, Jensen Huang, testing the device.
The current closest product to Orion is Meta’s Ray-Ban smart glasses, which gained popularity after AI assistant features were added. Meta has since introduced updates to these glasses, allowing users to scan QR codes and stream music from Spotify via voice commands. Later this year, video-generation features and real-time language translation between English and French, Italian, or Spanish will be added. Zuckerberg demonstrated this translation tool in a live conversation with Mexican MMA fighter Brandon Moreno.
Meta further announced upgrades to its AI offerings, including enhancements to its ChatGPT-like chatbot. One update allows users to insert personalized, AI-generated images into Facebook and Instagram feeds. Meta AI, its digital assistant, now supports voice commands and offers customizable celebrity voices, including Judi Dench and John Cena. Zuckerberg highlighted voice interactions as a more natural way of engaging with AI.
Over 400 million users engage with Meta AI monthly, with 185 million returning weekly. Meta also released three new Llama 3 models, though the EU was excluded due to regulatory concerns. Additionally, Meta launched an entry-level version of its Quest 3 mixed-reality headset, priced at $300, and lowered the cost of last year’s Quest 3.
Meta has invested tens of billions in AI, AR, and metaverse technologies, raising its capital expenditure forecast for 2024 to a record $37-40 billion. Despite these investments, Meta’s Reality Labs division reported a loss of $8.3 billion in the first half of the year and $16 billion in 2023.
