Snap CEO Evan Spiegel announced a $3.5 billion investment in augmented-reality (AR) glasses designed for business applications. The new Snap Specs, priced at $2,195, aim to usher in a post-smartphone era by displaying information directly in users' vision. This announcement came during Snap’s Q2 2026 earnings call and follows earlier efforts by the company to develop AR glasses.
The new Snap Specs operate like a computer rather than traditional smart glasses focused on photography. They feature a large private display capable of streaming content, casting screens, opening whiteboards, and transforming any location into a workspace. Spiegel highlighted significant interest in preorders but did not disclose exact figures. Snap also revealed partnerships with Nvidia, Amazon Web Services, and Salesforce to integrate the glasses into workplace environments.
Snap’s renewed focus on AR glasses comes after previous attempts, such as the first-generation Spectacles, which resulted in a $39.9 million inventory write-down in 2017. The current Specs target business users with enhanced features, reflecting a shift in the AR market toward enterprise adoption. This move aligns with broader industry trends where companies are investing heavily in AR to redefine computing beyond smartphones.
Snap’s investment and partnerships position the company to compete in the emerging AR workspace market. The $3.5 billion commitment announced this week underscores Snap’s strategy to capitalize on evolving computing paradigms. The company’s next earnings report will provide further insight into preorder volumes and market reception of the new Snap Specs.