article thumbnail

Magic Leap Gets Half-billion Dollar Boost Ahead of Vision Pro Launch

Road to VR

Saudi Arabia has recently injected more than half a billion dollars into augmented reality company Magic Leap, which it hopes will rival Apple’s Vision Pro mixed reality headset. To boot, in mid-2020 Abovitz stepped down as CEO , bringing in Microsoft’s Executive VP of Business Development Peggy Johnson to fill the role.

article thumbnail

Unicorn AR Startup Magic Leap is Killing Its First Headset Next Year

Road to VR

Magic Leap 1, the AR headset that helped the Plantation, Florida-based startup attract over three billion dollars in funding, will be completely defunct by late next year. The company announced this week that Magic Leap 1’s cloud services are due to be shut off on December 31st, 2024.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Magic Leap is Selling Its First AR Headset for Just $550

Road to VR

It looks like Magic Leap is holding a barn burner of a sale on its first AR headset, Magic Leap 1, as the one-time $2,300 device can now be had for $550. As first reported by GMW3 , Magic Leap appears to be flushing excess stock of the 2018-era AR headset via the Amazon-owned online retailer Woot. .

article thumbnail

Saudi Arabia Gains Majority Stake in Magic Leap in $450M Deal

Road to VR

Saudi Arabia has taken majority share of the US-based augmented reality company Magic Leap, The Telegraph reports, widening the stake via its state-owned sovereign wealth fund with a deal amounting to $450 million. The investment puts the country’s ownership of Magic Leap over 50 percent, giving it overall majority control.

article thumbnail

The XR Week Peek (2022.03.14): Niantic acquires 8th Wall, Magic Leap 2 previews are positive, and more!

The Ghost Howls

Image by Magic Leap). First previews show Magic Leap 2 qualities. This week some selected journalists from popular online magazines like CNET and The Verge have been able to have a preview of the upcoming Magic Leap 2 glasses. Other relevant news. And their feedback has been quite positive.

article thumbnail

Saudi Arabia’s Public Investment Fund Takes Control of Magic Leap

XR Today - Augmented Reality tag

To close 2022, Magic Leap’s leadership team underwent a major restructuring following a significant investment from Saudi Arabia’s sovereign wealth fund. The investment by Saudi’s PIF division allows the region to own over 50 percent of Magic Leap’s ownership stake. 120 Hz refresh rate.

article thumbnail

The XR Week Peek (2020.06.13): Magic Leap exploring a sale, events are going virtual and more!

The Ghost Howls

The good news of the week is that I’ve been selected as one of the speakers at AWE USA 2020 ! Image by Magic Leap). Magic Leap is on sale. A report on Bloomberg informed us all that Magic Leap is exploring a sale of the company. If Magic Leap is suffering, its competitor nReal is instead thriving.