Meta Drops New Smart Glasses
Meta has officially debuted an independent line of in-house Meta Glasses. Shifting away from lifestyle branding, these screenless wearables drop the Ray-Ban and Oakley logos to offer a cheaper entry point starting at $299. They are manufactured in partnership with optics giant EssilorLuxottica and feature adjustable nose pads and temple tips.
The line launches in 26 distinct styles across three main frame silhouettes:
- The Adventurer: A slim, square frame optimized for active use.
- The Fury: A thicker, bolder, and slightly rounder design.
- Kylie Edition: A premium, Y2K-inspired $399 frame codesigned with Kylie Jenner.
Hardware upgrades include an extended 8 hour active battery life and a companion case providing 40 additional hours. They house a 12MP camera, a 6 microphone array, and a customizable action button. Crucially, they are the first to ship with Meta’s Muse Spark AI model, drastically improving visual detail extraction, real time translation, and contextual memory.
SpaceX Valuation Slips
Following its historic $75 billion IPO, Elon Musk’s SpaceX (SPCX) has experienced a swift market correction. The stock whipsawed on Tuesday, dipping below its $150 opening trade price to hit an intraday low of $147.11. This contraction officially erased massive market value, briefly dragging its total market capitalization below the $2 trillion milestone for the first time since its public debut on June 12.
The pullback marks a steep 34% slide from its all time high of $225.64, achieved on June 16 amid early retail euphoria. Investor sentiment cooled rapidly following a grueling 16.4% single day plunge on Monday. The decline crystallized as early enthusiasm for SpaceX’s complex vertical integration, which blends its profitable Starlink internet engine with highly speculative, capital intensive AI infrastructure, faces broader macroeconomic tech sector sell-offs. Market makers are now closely watching the initial $135 fixed IPO pricing floor.
Market Summary: SPCX
| Metric | Detail |
| IPO Fixed Price | $135 per share |
| Opening Trade Price | $150 per share |
| Recent Peak (June 16) | $225.64 per share |
| Recent Intraday Low | $147.11 per share |
Sources: Google Finance, Yahoo Finance.
WhatsApp Appoints New Head
Meta has officially appointed entrepreneur Kunal Shah, founder of Indian fintech giant CRED, as the new head of WhatsApp. He succeeds Will Cathcart, who is stepping down after seven years at the helm to take on a new product building role within Meta. Shah will also step down as chief executive of CRED while retaining his personal shareholding.
This massive leadership transition coincides with a Meta-led $900 million financing round for CRED, valuing the startup at $4.5 billion. The move signals an aggressive push into digital commerce, as India is WhatsApp’s largest market with over 500 million users. It has emerged as a crucial battleground for Meta’s expansion into business messaging and payments. While WhatsApp Pay has gained traction there, it has struggled to reach the scale of local rivals like Google Pay and PhonePe. Meta is betting that Shah’s localized fintech experience can unlock the platform’s next phase of global growth.
SoFi Acquires AI Trading Platform Composer
Digital financial services giant SoFi Technologies has finalized its acquisition of Composer Securities LLC, an AI powered automated trading platform. While the exact financial terms of the deal remain undisclosed, the transaction has been treated as a non material acquisition aimed at deepening SoFi’s retail brokerage capabilities.
Coinciding with the acquisition, the company officially launched Composer by SoFi, an advanced investment tool. The new platform allows retail investors to design, backtest, and automate complex quantitative trading strategies using plain English and natural language, entirely eliminating the need for coding skills.
Users can also browse a library of over 2,000 community built strategies and deploy them instantly. The strategic acquisition is designed to boost user engagement and help SoFi differentiate itself in a highly crowded, commission free brokerage market as competitors like Robinhood also roll out rival algorithmic AI trading features.
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