Meta unveils new VR Glasses “5x lighter than Meta Quest 3” with $1,299 price tag, 75+ VR game support at launch

Bill Ackman's Pershing Square sold all Alphabet shares by June 2026 and increased its Meta Platforms stake by 20%. Meta's stock has risen 19% since, while Alphabet's has fallen, driven by Meta's AI product Muse. Pershing Square also added positions in Visa, Mastercard, S&P Global, and Netflix. Alphabet faces antitrust pressures and increased capital expenditure.

Meta unveiled new AI-powered wearables, including audio-only glasses priced at $349, set to launch on 13 October. CEO Mark Zuckerberg highlighted the company's AI assistant, Muse, and new smart glasses models. Meta also announced mixed reality glasses for $1,299, launching in spring 2027. The company faces privacy concerns and legal challenges.

Washington state will receive $237M-$339M from a $17.1B settlement with Meta Platforms Inc. over claims of harm to children. LaunchNW, a nonprofit, advocates for funds to support youth programs. Meta must implement safety features to protect children from social media overuse. Settlement funds may also cover attorney costs and youth mental health programs.

Meta unveiled VR Glasses weighing 100g, priced at $1,299.99, set to ship in spring 2027. The device features a two-piece design, with a 100g headset and a 300g puck. Meta aims to compete with Apple's Vision Pro and its own Ray-Ban Display glasses. The glasses use a 5K Infinite Display and a Qualcomm Snapdragon Reality Elite processor.

Shares of banks, insurers, and travel agencies fell as investors worry about Meta's AI agent, Muse, disrupting industries reliant on consumer inertia. Meta's stock rose 11% on Monday. Affected companies include JPMorgan, Morgan Stanley, Allstate, Charles Schwab, Expedia, and Booking Holdings. Goldman Sachs identifies telecoms, insurance, and utilities as sectors at risk.

Apple led The Irish Times' Top 1,000 rankings with €209.3bn revenue and €72bn profit. Microsoft, Meta, and Google followed. Eli Lilly entered the top 10. CRH was the largest indigenous company. Apple and Meta reduced Irish headcounts. Irish corporation taxes surged due to tech profits.