Snap bets billions on AR glasses

Snap CEO Evan Spiegel revealed $2,195 augmented-reality specs in June, claiming they could usher in a post-smartphone era where information displays in your vision without pulling out a phone.

The iPhone prepared us for this

Spiegel told CNBC that after nearly 20 years, the iPhone has made consumers ready to think differently about computing and accept information displayed in their vision.

“After nearly 20 years, the iPhone has made consumers ready to think differently about computing”

Specs are built for business, not photos

Unlike earlier Spectacles camera glasses, the new Specs operate as a full computer with a large private display for streaming content, casting screens, opening whiteboards, and turning any space into a workspace.

“A computer, not a pair of smart glasses for taking photos”

Major tech partners join the effort

Snap announced partnerships with Nvidia, Amazon Web Services, and Salesforce to bring Specs into workplaces. Salesforce's Agentforce will integrate into the glasses, Nvidia provides AI capabilities, and Amazon supplies a voice-command AI assistant.

Previous AR efforts have failed

Meta's Reality Labs lost $88.1 billion from 2019 to 2025 while generating only $12.3 billion in revenue. Google Glass launched at $1,500 in 2014 but was pulled within a year, and the enterprise version was discontinued in 2023.

Investor skepticism over spending

Snap's Specs program has consumed more than $3.5 billion, drawing criticism from activist investor Irenic Capital Management, which argues the spending should be funded separately rather than from Snap's main budget.