Mark Zuckerberg is exploring ways to expand Meta Platform Inc HALF collaboration with LG Electronics Inc on extended reality (XR) technologies during his tour of Asia, which included visits to Tokyo and Seoul. Meta recently visited a McDonald’s in Japan, praising her meal at the fast-food chain.
Meta CEO and LG CEO William Cho discussed business strategies for XR devices and the future evolution of virtual and augmented reality, highlighting Meta’s large language models and AI integration possibilities.
Their conversation focused on creating a unique ecosystem that combines Meta’s platform with LG’s content and TV business, Bloomberg reports.
Zuckerberg’s journey also focuses on AI and Quest headphones, amid Meta’s increased investments in AI and competition in hardware, particularly from Apple Inc AAPL Pro Vision.
During his stay in Seoul, a meeting is also scheduled with Samsung Electronics Co., a key player in virtual reality and competitor of LG.
Recent reports have indicated Meta’s plans to showcase its augmented reality or AR glasses at its annual Connect developer event this fall.
Zuckerberg’s visit aims to strengthen Meta’s competitive advantage in the field of artificial intelligence against major rivals such as OpenAI, Microsoft Corp MSFTAND Alphabet Inc GOOG GOOGLE.
Meanwhile, LG commits $7.6 billion in new technology investments, including electric vehicles.
Meta has gained 41% in share value since the beginning of the year. Fidelity MSCI Communication Services Index ETF FCOMwhich has close to 28% exposure to the stock, gained 9.4%.
Price Action: META shares were trading 0.37% lower at $485.12 on Wednesday, at last check.
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Disclaimer: This content was partially produced with the help of artificial intelligence tools and was reviewed and published by Benzinga editors.
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