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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. Photo by Road to VR.

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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. Will Magic Leap 2 be able to compete with Apple? Will Magic Leap 2 be able to compete with Apple?

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Report: Meta in Talks with Magic Leap for Multiyear AR Headset Tech Deal

Road to VR

A report from the Financial Times maintains Meta is currently in talks with AR headset creator Magic Leap to strike a multiyear deal, which could include intellectual property licensing and contract manufacturing of AR headsets in North America. Its majority stakeholder is Saudi Arabia’s state-owned sovereign wealth fund.

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Saudi Arabia to Boost Tourism Sector with AR Navigation Technology

XR Today - Augmented Reality tag

announced a partnership with AI Safer to enhance customer experiences for visitors to Saudi Arabian museums and tourist attractions. The region is undergoing Saudi Arabia’s “Vision 2030 “, an initiative to boost its cultural and tourism sector. Today, ARway.ai ARway is purpose built for the Vision Pro Launch.

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Magic Leap’s New AR Headset Is Coming This September

VRScout

The Magic Leap 2 will be available for purchase starting at $3,299 through select partners. American startup company Magic Leap has announced the official price and specs of the Magic Leap 2, its latest mixed reality headset designed for professionals and developers. Image Credit: Magic Leap.

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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 augmented reality (AR) headset manufacturer gained $450 million from the Saudi Arabian Public Investment Fund (PIF).

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Magic Leap Raises $461M in New Funding Led by Saudi Arabia’s Investment Arm

Road to VR

Magic Leap, the augmented reality headset manufacturer, has added another couple hundred million dollars to its Series D investment round, this time $461 million led by The Public Investment Fund, Saudi Arabia’s sovereign investment arm, Tech Crunch reports. billion in funding.