Warby Parker pops 16% on $150 million Google smart glasses partnership

A Warby Parker store is seen in Downtown Brooklyn in New York City on May 22, 2024. Warby Parker shares surged 15.6% after Google announced a smart glasses partnership at the tech company's annual I/O developer conference. Google has committed up to $150 million as part of the agreement. The company has put $75 million into product development costs and will invest as much as an additional $75 million into the glasses company if Warby meets "certain collaboration milestones," the companies announced. Warby Parker said it plans to launch a series of smart glasses with Google, with the first line of products set to arrive sometime "after 2025." The glasses will be built on top of Google's Android XR, an operating system for headset computers. Android XR will include Google's Gemini AI assistant that users can speak with to control their device. "We know that these need to be stylish glasses that you'll want to wear all day," said Shahram Izadi, Google's vice president and general man ... Read full article.