Mark Zuckerberg, chief executive officer of Meta Platforms Inc., during the Acquired LIVE event at the Chase Center in San Francisco, California, US, on Tuesday, Sept. 10, 2024.
David Paul Morris | Bloomberg | Getty Images
Meta announced the Quest 3S, the latest virtual reality headset to come out of the company’s Reality Labs division and a cheaper offering than its predecessor.
The device will go on sale on Oct. 15 and will retail starting at $299, down from the $499 starting price for 2023’s Quest 3. The device can be used to watch movies, as well as run VR fitness apps and gaming, Meta said Wednesday at its Connect event at its headquarters in Menlo Park, California. The company positioned the headset as a multitasking computer, putting it in competition with Apple’s $3,499 Vision Pro headset that launched in February.
Meta’s previous Quest devices are the bestselling VR headsets, with millions shipped thanks to heavy marketing and a lower price than many competitors, but those efforts have yet to spark a cultural phenomenon or a mainstream software ecosystem around VR. Including its acquisition of Oculus in 2014, Meta has poured more than $65 billion in expenses into its hardware efforts.
“I’ve been waiting for this one for a long time,” Zuckerberg said.
Meta CEO Mark Zuckerberg has defended the company’s spending as a strategic initiative to prevent Apple from controlling future hardware platforms.
Although there was hope among VR developers that Apple’s entry into the market would spur a wave of new apps and users, Apple hasn’t revealed sales for its headset and reports say that sales have been in small volumes, under 1 million units, partially due to its high price.
What it does
A Meta representative said the “S” stands for “start” — as in getting started with VR.
Many of the new Meta features that the company discussed on Tuesday for its $299 Quest 3S have counterparts on Apple’s Vision Pro, including a mode that allows for the device to be used on an airplane and another that simulates a large movie theater inside the headset.
Meta highlighted improved “passthrough,” the term used to described when a VR headset uses cameras and sensors on the outside of the device to display live real-time video inside the headset. That function is intended to make users feel like they are looking through a display and allows them to interact with the real world while keeping the headset on. For the Quest 3S, Meta added a dedicated button to turn on passthrough.
The company has emphasized the ability of the Quest 3S to multitask and run apps, positioning it as a computing device, instead of a game console.
“All the things you can do with a general purpose computer, Quest is the full package,” Zuckerberg said.
In demos provided Tuesday, Meta showcased the device running as many as four apps at one time on floating screens inside the headset, including a YouTube video, a browser, Amazon Music and Meta’s app store. Meta says the headset can handle six windows. But the demo experience was not smooth. The Amazon Music app crashed, window controls would disappear and Meta’s controllers would fall asleep after a few minutes if the user wasn’t pressing buttons.
Besides the Quest 3S, Meta also announced a price cut for last’s year Quest 3, bringing the price of the 512GB version down from $650 to $500. The Quest 3 has more advanced lenses and a superior screen with a higher resolution than the Quest 3S.
Additionally, Meta said it will discontinue the Quest Pro, its $999 headset launched in 2022 that never gained much momentum.
Eventually, glasses
Meta Orion AR glasses prototype
Meta
Zuckerberg’s justification for spending so much on VR and augmented reality is his belief that the technology will eventually end up in lightweight, transparent glasses that overlay computer graphics and information onto the real world.
Investing in VR software and hardware are early steps toward those glasses, which could take as much as a decade to develop, Zuckerberg has previously said.
Zuckerberg showed off an early concept of what those glasses could look like on Wednesday. The thick, black-framed prototype, called Orion, won’t be sold to consumers, but Meta says they will be used internally as the company continues working toward the consumer glasses it hopes to one day sell.
“This is where we are going,” Zuckerberg said.
Zuckerberg said they were Meta’s first “fully-functioning” prototype of the glasses, and would be physically tethered to a small “puck.” Zuckerberg also said that it would take advantage of a wrist-based interface, which came out of stems from the company’s 2019acquisition of CTRL-Labs.
Meta’s Orion prototype comes a week after Snapannounced its fifth-generation Spectacles AR glasses. Those thick-framed glasses will only be made available to developers, who must commit to paying $99 a month for one full year if they want to build AR apps for the device.
This isn’t the first time Meta publicly revealed a prototype of a future devices or research projects to signal to investors and employees where VR and AR technology is headed. The Orion glasses are an improvement on Project Nazare, prototype smart glasses that Zuckerberg announced in 2021, when the company changed its name from Facebook.
Ray-Ban Meta smart glasses are powered by a Qualcomm chip. Qualcomm, Samsung and Google are working on smart glasses, according to Qualcomm CEO Cristiano Amon.
Nurphoto | Nurphoto | Getty Images
Meta does sell a pair of glasses with a built-in camera in partnership with EssilorLuxottica called Ray-Ban Meta, which start at $299. While these glasses don’t have any displays, they do have tiny speakers that allow the device to play music or interact with Meta AI, the company’s voice assistant.
For example, the Ray-Ban Meta glasses can now detect when a user is looking at a sign in Spanish and, if asked, can translate in the user’s ear, a new improvement, Meta said. The camera can scan QR codes, and it can also extract information like book titles out of photos it takes. Plus, they’re stylish and look like a pair of typical sunglasses.
“One of the most important things about this is they’re just good-looking glasses,” Zuckerberg said.
Another new capability for the glasses is the ability to remember facts like where the user parked.
Li-Chen Miller, the vice president of product in charge of Ray-Ban Meta glasses, told CNBC that when she travels, she uses the glasses to take photos of her hotel room door, and later, she asks Meta AI to recall the number.
Zuckerberg is excited about the Ray-Ban Meta smart glasses, which have sold more than 730,000 units in their first three quarters, according to market researcher IDC. In July, he told investors that they were “a bigger hit sooner than expected.”
Last week, EssilorLuxottica and Meta announced that they had extended their partnership to develop more smart glasses.
AI that speaks
Zuckerberg also introduced improvements to its Meta AI chatbot that will allow people to interact with it using their voice instead of written text.
Users will now be able to have natural voice conversations with Meta AI, which is accessed through Meta apps like Messenger and Instagram. Users will be able to perform actions using their voice, such as telling Meta AI to take a photo by talking to their smartphone.
For Meta AI’s new feature, the company is using computer-generated voices from celebrities including Awkwafina, Judi Dench, John Cena, Keegan-Michael Key and Kristen Bell.
The new Siri-like Meta AI voice feature will be available over the next month for U.S., Canadian, Australian and New Zealand users of WhatsApp, Instagram, Facebook and Messenger.
The feature comes one day after rival OpenAI, the maker of ChatGPT, announced an advanced voice feature for people who pay its premium service.
The company said that the new chatbot features are based on Meta’s AI model, Llama. The company also announced a newer version of Llama, called Llama 3.2. This updated model can understand both images and text, an upgrade from its predecessors which generated responses to people’s written prompts.
The letters AI, which stands for “artificial intelligence,” stand at the Amazon Web Services booth at the Hannover Messe industrial trade fair in Hannover, Germany, on March 31, 2025.
Amazon said Wednesday that its cloud division has developed hardware to cool down next-generation Nvidia graphics processing units that are used for artificial intelligence workloads.
Nvidia’s GPUs, which have powered the generative AI boom, require massive amounts of energy. That means companies using the processors need additional equipment to cool them down.
Amazon considered erecting data centers that could accommodate widespread liquid cooling to make the most of these power-hungry Nvidia GPUs. But that process would have taken too long, and commercially available equipment wouldn’t have worked, Dave Brown, vice president of compute and machine learning services at Amazon Web Services, said in a video posted to YouTube.
“They would take up too much data center floor space or increase water usage substantially,” Brown said. “And while some of these solutions could work for lower volumes at other providers, they simply wouldn’t be enough liquid-cooling capacity to support our scale.”
Rather, Amazon engineers conceived of the In-Row Heat Exchanger, or IRHX, that can be plugged into existing and new data centers. More traditional air cooling was sufficient for previous generations of Nvidia chips.
Customers can now access the AWS service as computing instances that go by the name P6e, Brown wrote in a blog post. The new systems accompany Nvidia’s design for dense computing power. Nvidia’s GB200 NVL72 packs a single rack with 72 Nvidia Blackwell GPUs that are wired together to train and run large AI models.
Computing clusters based on Nvidia’s GB200 NVL72 have previously been available through Microsoft or CoreWeave. AWS is the world’s largest supplier of cloud infrastructure.
Amazon has rolled out its own infrastructure hardware in the past. The company has custom chips for general-purpose computing and for AI, and designed its own storage servers and networking routers. In running homegrown hardware, Amazon depends less on third-party suppliers, which can benefit the company’s bottom line. In the first quarter, AWS delivered the widest operating margin since at least 2014, and the unit is responsible for most of Amazon’s net income.
Microsoft, the second largest cloud provider, has followed Amazon’s lead and made strides in chip development. In 2023, the company designed its own systems called Sidekicks to cool the Maia AI chips it developed.
The logo of the cryptocurrency Bitcoin can be seen on a coin in front of a Bitcoin chart.
Silas Stein | Picture Alliance | Getty Images
Bitcoin hit a fresh record on Wednesday afternoon as an Nvidia-led rally in equities helped push the price of the cryptocurrency higher into the stock market close.
The price of bitcoin was last up 1.9%, trading at $110,947.49, according to Coin Metrics. Just before 4:00 p.m. ET, it hit a high of $112,052.24, surpassing its May 22 record of $111,999.
The flagship cryptocurrency has been trading in a tight range for several weeks despite billions of dollars flowing into bitcoin exchange traded funds. Bitcoin purchases by public companies outpaced ETF inflows in the second quarter. Still, bitcoin is up just 2% in the past month.
Stock Chart IconStock chart icon
Bitcoin climbs above $112,000
On Wednesday, tech stocks rallied as Nvidia became the first company to briefly touch $4 trillion in market capitalization. In the same session, investors appeared to shrug off the latest tariff developments from President Donald Trump. The tech-heavy Nasdaq Composite notched a record close.
While institutions broadly have embraced bitcoin’s “digital gold” narrative, it is still a risk asset that rises and falls alongside stocks depending on what’s driving investor sentiment. When the market is in risk-on mode and investors buy growth-oriented assets like tech stocks, bitcoin and crypto tend to rally with them.
Investors have been expecting bitcoin to reach new records in the second half of the year as corporate treasuries accelerate their bitcoin buying sprees and Congress gets closer to passing crypto legislation.
Don’t miss these cryptocurrency insights from CNBC Pro:
Perplexity AI on Wednesday launched a new artificial intelligence-powered web browser called Comet in the startup’s latest effort to compete in the consumer internet market against companies like Google and Microsoft.
Comet will allow users to connect with enterprise applications like Slack and ask complex questions via voice and text, according to a brief demo video Perplexity released on Wednesday.
The browser is available to Perplexity Max subscribers, and the company said invite-only access will roll out to a waitlist over the summer. Perplexity Max costs users $200 per month.
“We built Comet to let the internet do what it has been begging to do: to amplify our intelligence,” Perplexity wrote in a blog post on Wednesday.
Perplexity is best known for its AI-powered search engine that gives users simple answers to questions and links out to the original source material on the web. After the company was accused of plagiarizing content from media outlets, it launched a revenue-sharing model with publishers last year.
In May, Perplexity was in late-stage talks to raise $500 million at a $14 billion valuation, a source familiar confirmed to CNBC. The startup was also approached by Meta earlier this year about a potential acquisition, but the companies did not finalize a deal.
“We will continue to launch new features and functionality for Comet, improve experiences based on your feedback, and focus relentlessly–as we always have–on building accurate and trustworthy AI that fuels human curiosity,” Perplexity said Wednesday.