刘琼 林屹涵 马思宇 腾讯研究院 以大模型为核心的新一轮人工智能浪潮，正在全球范围内催生一批AI原生企业。本系列研究将AI原生企 业界定为：创立之初即将人工智能作为核心产品、服务或能力，并以此驱动价值创造和业务创新的公 司，有别于仅将AI嵌入现有业务或作为工具的企业。腾 讯研究院聚焦全球100+家AI原生企业，围绕三 大关键问题展开系列观察：1）AI原生企业正催生了哪些新技术、产品形态和商业模式？2）AI技术如何 深度融入千行百业的应用场景和核心流程，赋能产业升级？3）AI产业生态正在沿着怎样的路径加速演 进，带来哪些结构性变革？ 一、AI消费硬件的三大发展路线 2023年以来，AI消费硬件呈现高度形态创新，AI手机、智能眼镜、戒指和耳机、陪伴机器人等新品类快 速崛起。按照AI原生程度划分，大致可分为三条路线： 路线1：以Rabbit等为代表的AI原生设备探索范式 近两年，多款AI原生设备相继推出，试图跳出智能手机主导的交互范式，探索"意图即操作"的新路径。 他们普遍弱化App、菜单与窗口，依赖大模型驱动的语义理解与任务执行，是AI原生设备的雏形。 典型代表如Rabbit R1、Humane AI Pin，前 ...

Core Viewpoint - The global AI eyewear market is expected to experience rapid growth driven by the launch of multiple new AI glasses, with Essilor Luxottica reporting significant sales increases in its smart eyewear segment, particularly with the Ray-Ban Meta collaboration with Meta [1][4]. Company Overview - Essilor Luxottica, formed from the merger of Italian eyewear giant Luxottica and French lens maker Essilor in 2018, holds a dominant position in the traditional eyewear market, managing the entire supply chain from design to distribution [4]. - The company operates over 18,000 retail stores in more than 150 countries and owns well-known brands such as Ray-Ban, Oakley, Vogue Eyewear, and Persol, as well as luxury eyewear lines for brands like Chanel, Prada, and Tiffany & Co. [4]. Financial Performance - In the first half of the year, Essilor Luxottica reported total sales of €14.02 billion (approximately $16.25 billion), reflecting a year-on-year growth of 7.3% [1]. Product Launches and Collaborations - The second-generation Ray-Ban Meta smart glasses are set to launch at the end of 2023, priced between $300 and $379, and are considered a flagship product in the AI eyewear category [5]. - After a five-year partnership, Meta has renewed its long-term collaboration with Essilor Luxottica to develop multiple generations of smart eyewear over the next decade [5]. - New Oakley Meta smart glasses were launched in collaboration with Meta's Facebook, with prices ranging from $399 to $499 for limited editions [5]. Market Trends and Future Outlook - The rise of AI technology is driving innovation in terminal devices, with AI glasses seen as one of the best hardware carriers for edge AI [6]. - Analysts predict a surge in new AI eyewear releases by 2025, as the market shifts from novelty to practicality, with features like translation, photography, and AI voice assistance becoming common in daily use [6]. - The upcoming releases of products like Oakley Meta HSTN and Xiaomi AI glasses are expected to significantly boost global AI eyewear shipments [6].

Group 1 - The company reported a sound revenue growth of 7.3% in both Q2 and H1, indicating strong performance across all regions and businesses [8] - North America showed acceleration in performance, with Direct-to-Consumer (DTC) maintaining solid growth [8] - EMEA confirmed strong performance in both Professional Services (PS) and DTC, being the best region for the company [8] Group 2 - AI glasses, particularly Ray-Ban Meta, experienced over 200% increase in sales in H1, showcasing significant market demand [8] - The successful launch of Oakley Meta and the 50th anniversary edition further solidified the company's position in the AI glasses market [8] - Nuance Audio has been rolled out in 10,000 locations across North America and Europe, indicating strong adoption [8] Group 3 - The adjusted operating margin remained stable at 18.3% in H1, reflecting effective cost management [8] - The company generated a sound free cash flow of €951 million, demonstrating strong financial health [8] - The acquisition of Optegra clinics marks a significant step in the company's MedTech journey, enhancing its capabilities in personalized patient care [8]