Meta stake in Ray-Ban maker EssilorLuxottica 'at least 3%', board director says

Core Viewpoint - Meta holds at least a 3% stake in EssilorLuxottica, with potential for the stake to increase, as both companies collaborate on Ray-Ban Meta AI-powered glasses [1][2]. Group 1: Stake Details - Meta's investment in EssilorLuxottica is confirmed to be at least 3%, with estimates suggesting it could be as high as 5%, although likely closer to the lower end [2]. - There are no current plans for Meta to seek a board seat at EssilorLuxottica, indicating a more strategic partnership rather than a controlling interest [3]. Group 2: Product Collaboration - The Ray-Ban Meta glasses, which allow users to take photos, stream content, and interact with an AI assistant, have positively impacted EssilorLuxottica's sales this year [3]. - The partnership is facing increasing competition from major tech companies like Google and Apple, which are also developing their own smart glasses [4].