Meta Platforms Inc ( META ). shares are trading higher Wednesday as investors react to AI, virtual reality (VR) and augmented reality (AR) announcements made during the company’s ‘Meta Connect 2024’ event.

What To Know: Key highlights from the event include the unveiling of Meta’s Quest 3S, a mixed-reality headset priced at $299, which will start shipping on October 15 2024. The company also revealed updates to its Ray-Ban Meta smart glasses, now featuring AI-driven tools like reminders, QR code scanning and future capabilities such as live translation between multiple languages.

Additionally, Meta introduced its ‘Orion’ AR glasses, a prototype product that runs its Meta AI assistant, which will soon be tested by select audiences.

Meta's push toward AI continues to gain momentum, with the company announcing that its Meta AI chatbot is used by more than 400 million people monthly. Meta also plans to expand its AI tools for businesses, particularly those using click-to-message ads on Messenger and WhatsApp. Furthermore, the company is enhancing its generative AI ad tools and released the Llama 3.2 AI models, capable of understanding both text and images.

META price Action: Meta shares were up by 1.42% at $571.36 according to Benzinga Pro.

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