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Report: Meta in Talks with Magic Leap for Multiyear AR Headset Tech Deal

Road to VR

The AR unicorn is said to possess valuable IP regarding custom components, including its optics, waveguides, and software. The company has raised over $4 billion, with minority investors including Google, Alibaba, Qualcomm, AT&T, and Axel Springer. Its majority stakeholder is Saudi Arabia’s state-owned sovereign wealth fund.

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Magic Leap And Google Announce AR Partnership

Upload VR

Magic Leap has entered a "multi-faceted, strategic technology partnership" with Google. The companies say the partnership will combine Magic Leap's "leadership in optics and manufacturing" with Google's "technology platforms". Google was an initial investor in Magic Leap, leading a $542 million funding round back in 2014.

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Saudi Arabia’s Public Investment Fund Takes Control of Magic Leap

XR Today - Augmented Reality tag

To close 2022, Magic Leap’s leadership team underwent a major restructuring following a significant investment from Saudi Arabia’s sovereign wealth fund. The augmented reality (AR) headset manufacturer gained $450 million from the Saudi Arabian Public Investment Fund (PIF).

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IGS 2022 Miami: XR Today Expert Round Table

XR Today - Mixed Reality tag

Artists previously used very expensive hardware and software to create digital assets, namely with delayed throughput. According to AlMuawad, Midwam’s solutions were key to developing Saudi Arabia as a strategic tech and metaverse incubator. Didimo’s technologies eliminated this by producing avatars “at scale.”

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The XR Week Peek (2025.03.18): Niantic sells Pokemon Go, Meta released passthrough APIs, and more!

The Ghost Howls

Scoperlys parent company is owned by Saudi Arabias Public Investment Fund, meaning that Pokemon Go now belongs to the king of Saudi Arabia. The approach chosen by Meta is similar to the one that Google promised to take with Android XR. This will let Google enrich its content library pretty fast.

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Convergence, Enterprise AR, and Mapping the Inside World with Charlie Fink

XR for Business Podcast

There’s a whole range of services, and GPS is getting better now that it’s being married to computer vision, so you can get highly-localized Google directions – really accurate, down to a couple of feet. Is this a job for Google Glass? Charlie: Yeah it’s Google Glass. Google put in 500 million dollars.

AR 78
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Convergence, Enterprise AR, and Mapping the Inside World with Charlie Fink

XR for Business Podcast

There’s a whole range of services, and GPS is getting better now that it’s being married to computer vision, so you can get highly-localized Google directions – really accurate, down to a couple of feet. Is this a job for Google Glass? Charlie: Yeah it’s Google Glass. Google put in 500 million dollars.

AR 78