TNB Tech Minute: Ray-Ban Maker Says Smartglasses Sales Nearly Doubled In Latest Quarter

**SPEAKER_1** (0:00)
The thing about AI for business, it may not automatically fit the way your business works.
At IBM, we've seen this firsthand. But by embedding AI across HR, IT and procurement processes, we've reduced costs by millions, slash repetitive tasks, and freed thousands of hours for strategic work. Now we're helping companies get smarter by putting AI where it actually pays off, deep in the work that moves the business. Let's create smarter business. IBM.

**Julie Chang** (0:31)
Here's your afternoon TNB Tech Minute for Tuesday, July 28th. I'm Julie Chang for the Wall Street Journal.
Iowa company Escelor L'Exotica said sales growth slowed a little in the second quarter from the first, but it's still seeing a continued rapid increase in revenue from its smart classes. The Franco-Italian manufacturer said sales of Ray-Ban and Oakley smart glasses, powered by AI and produced with meta, nearly doubled in the second quarter. The company is banking on the tech-infused glasses to help fuel its growth over the long term. But the group could face competition from other smart glasses models in the near future, with Google and Apple preparing their own models of the wearable tech. Chip equipment supplier ASM International said it expects next year's sales to grow more than previously thought, as the race to build AI infrastructure and new devices fuels demands for chips and the tools needed to make them. The Dutch company's previous 2027 revenue target was between $4.2 to $5.2 billion. It announced today that it expects to exceed the top end of that range. ASM International also reported that second quarter sales rose 24% on year. Its shares are up 46% since January, despite bouts of volatility that have weighed on the sector.
And shares of SpaceX are trading about 18% below its IPO price of $135.
Elon Musk's Space Exploration and AI Company debuted on Wall Street mid-June. The stock climbed above $200 shortly after its hotly anticipated market debut. It has since shed some $1.2 trillion in market cap as it wipes those early gains and continues to fall below its IPO price. It was up about 2% in mid-afternoon trading. And that's your TNB Tech Minutes. We'll have another Quick Tech Update in the morning.

**SPEAKER_1** (2:21)
So there's a lot of noise about AI, but time's too tight for more promises. So let's talk about results. At IBM, we work with our employees to integrate technology right into the systems they need. Now, a global workforce of 300,000 can use AI to fill their HR questions, resolving 94% of common questions.
Not noise, proof of how we can help companies get smarter by putting AI where it actually pays off, deep in the work that moves the business. Let's create smarter business, IBM.