Latest news with #KurtWagner
Bloomberg
4 days ago
- Business
- Bloomberg
Meta to Spend Hundreds of Billions on AI, Says Zuckerberg
Bloomberg's Kurt Wagner discusses Meta's plans to invest in compute power to build out AI superintelligence. He joins Jackie Davalos on 'Bloomberg Tech.' (Source: Bloomberg)
Business Insider
5 days ago
- Business
- Business Insider
Meta acquires PlayAI, an AI startup focused on voice tech, Bloomberg says
Meta has completed a deal to acquire PlayAI, an AI startup focused on voice tech, Kurt Wagner of Bloomberg reports. The 'entire PlayAI team' is set to join Meta next week, Bloomberg notes, citing an internal memo. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Bloomberg
10-07-2025
- Business
- Bloomberg
Yaccarino's Exit From X Leaves Musk Seeking Someone to Put Out the Fires
Welcome to Tech In Depth, our daily newsletter about the business of tech from Bloomberg's journalists around the world. Today, Kurt Wagner reports on Linda Yaccarino's resignation as chief executive officer of the social media platform X. New Samsung devices: Samsung unveiled several new devices, including its thinnest and cheapest folding phones yet — which it hopes will help the segment catch on with mainstream consumers.
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Business Standard
09-07-2025
- Business
- Business Standard
Meta invests $3.5 bn in world's largest eye-wear maker in AI glasses push
By Kurt Wagner, Tommaso Ebhardt & Daniele Lepido Meta Plaforms Inc. bought a minority stake in the world's largest eye-wear maker EssilorLuxottica SA, a deal that increases the US tech giant's financial commitment to the fast-growing smart glasses industry, according to people familiar with the matter. Facebook parent Meta acquired just under 3 per cent of Ray-Ban maker EssilorLuxottica, a stake worth around €3 billion ($3.5 billion) at the current market price, said the people, who asked not to be identified because deliberations are private. Menlo Park, California-based Meta is considering further investment that could build the stake to around 5 per cent over time, the people added, though those plans could still change. EssilorLuxottica's American depositary receipts rose as much as 6.9 per cent to $148, their biggest intraday jump since April 9. Representatives for Meta and EssilorLuxottica declined to comment. Meta's investment in the eyewear giant deepens the relationship between the two companies, which have partnered over the past several years to develop AI-powered smart glasses. Meta currently sells a pair of Ray-Ban glasses, first debuted in 2021, with built-in cameras and an AI assistant. Last month, it launched separate Oakley-branded glasses with EssilorLuxottica. EssilorLuxottica Chief Executive Officer Francesco Milleri said last year that Meta was interested in taking a stake the company, but that plan hadn't materialized until now. The deal aligns with Meta CEO Mark Zuckerberg's commitment to AI, which has become a top priority and major expense for the company. Smart glasses are a key part of that plan. While Meta has historically had to deliver its apps and services via smartphones created by competitors, glasses offer Meta a chance to build its own hardware and control its own distribution, Zuckerberg has said. The arrangement gives Meta the advantage of having more detailed manufacturing knowledge and global distribution networks, fundamental to turning its smart glasses into mass-market products. For EssilorLuxottica, the deal provides a deeper presence in the tech world, which would be helpful if Meta's futuristic bets pay off. Meta is also betting on the idea that people will one day work and play while wearing headsets or glasses. Shares of Warby Parker, a competing glasses-maker, rose as much as 4.3 per cent on Bloomberg's report.
Bloomberg
03-07-2025
- Business
- Bloomberg
The Future For Meta's Threads
Two years after its debut, Meta's social media platform Threads is still in search of being relevant among its peers. Bloomberg's Kurt Wagner joins Ed Ludlow on 'Bloomberg Tech' to discuss. (Source: Bloomberg)
