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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. The investment puts the country’s ownership of Magic Leap over 50 percent, giving it overall majority control.

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Magic Leap Founder Rony Abovitz to Step Down as CEO

Road to VR

Magic Leap pivoted to the enterprise space recently after an extended lukewarm reception by consumers for its $2,300 AR headset. Abovitz released a statement on the Magic Leap blog explaining the move, saying that a change in his role was “a natural next step” to bringing about the next phase of the company.

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Welcome Baby Yoda into Your Personal Space with Google Search AR

Next Reality AR

Google, you have something that I want. That something, of course, is Baby Yoda.er, Grogu.from the Disney+ Star Wars series The Mandalorian. You may think you have some idea of what you are in possession of, but you do not. In a few moments, it will be mine.and it can be yours, too, dear readers.

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Magic Leap to Launch in 19 Countries, Exec Says

XR Today - Mixed Reality tag

AR tech firm Magic Leap is set to launch in 19 countries across the world, Lisa Watts, Vice President of Product Marketing and Developer Programs for Magic Leap announced at the Immerse Global Summit (IGS) 2022 Europe on Madeira Island, Portugal. Magic Leap 2 stands on the shoulders of giants and the force.

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The Ghost Howls’s VR Week Peek (2019.12.16): Oculus Quest gets hand tracking, Magic Leap pivots towards enterprise and much more!

The Ghost Howls

And of course, between a glass of champagne and a slice of panettone, there is still time for VR, so here you are a collection of best VR news of the past week! Magic Leap pivots towards enterprise. I hope for Magic Leap that the next device, Magic Leap 2, will be better. Top news of the week.

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Spatial Beats: Oculus, Google & Snap

AR Insider

This week, we look at tech stocks, Quest 2’s continued rise, Google’s VR sunsetting, and horsing around with Snapchat See the full roundup below. What is up with Google and XR? Of course, for long term success, there has to be a source of recurring revenue, which leads us to this next story.

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The Ghost Howls’s VR Week Peek (2019.12.09): Qualcomm XR2 defines the future of XR, Magic Leap having tragic sales, and much more!

The Ghost Howls

Image by Magic Leap). Magic Leap may be in trouble, but its CEO remains confident. Some weeks ago, I’ve reported of rumors about Magic Leap being in big trouble and having assigned all its patents as collateral to bank JP Morgan, probably because it is looking for a loan or to raise a round E.