tech π Snap bets big on AR glasses amid AI race
Snap posted higher-than-projected quarterly sales, signalling optimism for its upcoming AR glasses debut. The Santa Monica company saw revenue jump 19% to $1.6 billion for the quarter ending June 30. Snap projects Q3 sales of up to $1.74 billion, beating projections of $1.70 billion. CEO Evan Spiegel sees the Specs glasses as the company's largest long-term opportunity in the AI race. Despite this, Snap faces regulatory headwinds and investor skepticism regarding its new hardware. π±