Tech Giants Navigate Funding Shifts and Regulatory Pardons Amid Market Volatility
Snap reportedly aims to secure $1 billion to advance its augmented reality glasses amid competition. In a controversial move, former President Trump has pardoned Binance founder Changpeng Zhao, sparking market reactions. Meanwhile, Intel’s financial recovery and Apple’s domestic manufacturing push highlight industry shifts.
Snap’s Billion-Dollar AR Ambition
Snap, the company behind Snapchat, is reportedly seeking to raise $1 billion to accelerate development of its Spectacles augmented reality glasses, according to sources familiar with the matter. The funding push comes as CEO Evan Spiegel faces increased pressure in the competitive AR hardware space. Analysts suggest the Los Angeles-based company, which first entered the AR glasses market in 2016, is now working on its sixth-generation device while trailing Meta’s Ray-Ban smart glasses that have captured significant market share since their 2021 debut.