Meta has ramped up its push into AI-powered wearables with a $3.5 billion (A$5.2 billion) investment in the maker of Ray-Ban and Oakley glasses, EssilorLuxottica.

Meta has acquired just under a 3% stake in the European company, strengthening its long-term partnership to co-develop smart glasses embedded with AI capabilities.

Meta and EssilorLuxottica have been collaborating since 2021, launching a series of Ray-Ban smart glasses featuring built-in cameras and AI assistants.

Just last month, the pair released a new Oakley-branded smart eyewear line.

According to sources familiar with the deal, Meta is considering boosting its stake to as much as 5% in the future. Neither company has publicly commented on the transaction.

The investment aligns with Meta CEO Mark Zuckerberg’s AI and hardware strategy. For years, Meta has relied on third-party devices to deliver its services, particularly smartphones made by rivals.

With smart glasses, Meta is gaining more control over hardware, software, and global distribution.

Shares in US-based rival eyewear brand Warby Parker jumped over 4% following the news.