Snap Pours $3.5 Billion into Augmented-Reality Glasses for Businesses

Snap's CEO Evan Spiegel has made a significant bet on augmented-reality (AR) glasses, pouring over $3.5 billion into the project so far.

The new AR specs, called Snap Specs, are designed for businesses and offer features such as a large display screen, allowing users to stream content, cast a screen, or open a whiteboard, effectively turning any space into a workspace.

Snap has partnered with Nvidia, Amazon Web Services, and Salesforce to integrate their platforms into the glasses software. The goal is to make it easy for businesses to utilize these agentic platforms.

This is not Snap's first attempt at creating AR glasses; its previous effort, Spectacles, resulted in a $39.9 million inventory-related charge in 2017 due to unsold inventory.