Underscoring its commitment to smart glasses, Meta Platforms has reportedly invested $3.5 billion in EssilorLuxottica SA, the world’s largest manufacturer of eyewear. The move gives Meta around a three percent stake in the Paris-headquartered firm, and expands an existing relationship for brand deals that resulted in the casual Ray-Ban Meta AI glasses released in 2021 and an athlete-focused Oakley Meta HSTN AI line announced last month. Neither Meta nor EssilorLuxottica has publicly commented on the equity buy-in yet, though it has been reported Meta may increase its stake to five percent. Read more

New ultra-slim Galaxy Z Flip7 and Galaxy Z Fold7 smartphones, three new models of smartwatches, and the debut of One UI 8 were among the highlights of Samsung’s summer Galaxy Unpacked event yesterday. The Galaxy Z Fold7 is just 8.9mm thick when folded (and 4.2mm unfolded, less than three pennies stacked) and features a larger main screen than its predecessor at 8 inches (up from 7.6 inches) as well as a bigger 6.5-inch outer display. A big change to the Galaxy Z Flip7 is the fact that its 4.1-inch cover screen extends around the two camera lenses. Meanwhile, Google has introduced AI updates to Android, delivering new Gemini capabilities for Samsung’s mobile lineup. Read more

Oracle will supply massive compute power to OpenAI as part of a new contract reported at $30 billion annually focused on accelerating Sam Altman’s ambitions for Stargate, the initiative to build U.S. data centers announced in January by President Trump as a matter of national security. OpenAI committed $500 billion over four years to the project. The Oracle deal involves an estimated 4.5 gigawatts of U.S. data center power consumption, equivalent to the power output of four-and-a-half nuclear reactors operating at full capacity — enough to power approximately 3.3 million U.S. households during that time. Read more

Apple announced a new 15,000-square-foot Apple Music Los Angeles studio in Culver City will open later this summer. The three-story complex that Apple says is “designed with artists in mind” includes two radio studios with support for immersive Apple Spatial Audio playback, a spatial audio mixing room, an art gallery, a “social media lab” and a 4,000-square-foot soundstage. Commemorating the 10th anniversary of Apple Music, the new structure is situated nearby to the future home of Apple TV+, a 550,000-square-foot building going up where Culver City borders the City of Los Angeles. Read more

Netflix is taking steps aimed at upgrading the viewer experience, rolling out AV1 Film Grain Synthesis (FGS) streams to the majority of its subscribers. While FGS has been part of the AV1 standard since the Alliance for Open Media introduced the format in 2018, Netflix began to apply it to a limited number of titles in 2021 and is is now enabling it at scale. The streamer says the open-source FGS compression system “revolutionizes video streaming” and will “preserve the artistic integrity of film grain” — a feature generally considered essential to achieving a cinematic look — while also optimizing data efficiency. Read more