Snap is betting $3.5 billion on AR glasses that businesses can use as CEO Evan Spiegel sees a post-smartphone era
Article excerpt
For more than a decade, some of the world’s biggest technology companies have spent billions trying to put computers on people’s faces - to minimal success. But Snap CEO Evan Spiegel revealed another bet on glasses in June, this time with a $2,195 pair of augmented-reality (AR) specs that he says could usher in a post-smartphone era. After nearly 20 years, the iPhone has made consumers ready to think differently about computing, he told CNBC at the time, arguing information can be displayed in a person’s vision without them needing to pull out a phone to look down at a screen. During Snap’s Q2 2026 earnings call last month, Spiegel claimed there has been a “huge amount of interest” in preorders for the new AR glasses, but gave no exact numbers. It’s not Snap’s first effort at glasses, which haven’t paid off. The company recorded $39.9 million in Spectacles inventory-related charges in Q3 2017 as it wrote down unsold inventory from its first-gen camera glasses. But Spiegel said Snap’s new Specs have features that make it desirable for businesses - with the glasses operating like “a computer, not a pair of smart glasses for taking photos.” “A large, private display makes it possible to stream content, cast a screen, open a whiteboard, or turn almost any place into a workspace,” a press release read, announcing the debut of the Snap Specs. On Wednesday, Snap announced...
Keep reading with a free account
The rest of this article, and every signal for Snap, is in your free account.
Extracted from this sentence
According to Snap, Salesforce’s Agentforce platform will be integrated into the glasses software, while Nvidia will provide AI capabilities to interpret visual environments.
