3/27/2023 0 Comments Magic leap![]() ![]() Through PIF, Saudi Arabia owns minority stakes in Uber, Capcom, Nexon, Live Nation, Boeing, Meta, Alphabet, Citigroup, Disney, and Bank of America to name a few. The wealth fund, which is controlled by Crown Prince Mohammed bin Salman, invests in projects considered to be strategically significant to diversifying its national economy. The Telegraph reports that, as of November 2022, Saudi Arabia’s PIF is “entitled to appoint four of the eight directors of the board of directors of Magic Leap.” The investment puts the country’s ownership of Magic Leap over 50 percent, giving it overall majority control. To produce the supposedly realistic three dimensional shapes, the headset connects to a tiny computer called the Lightpack which you can easily clip on to your belt or your pocket.Saudi Arabia has taken majority share of the US-based augmented reality company Magic Leap, The Telegraph reports, widening the stake via its state-owned sovereign wealth fund with a deal amounting to $450 million.Ĭiting delayed accounts obtained from its European division, the company is said to have raised $150 million in preferred convertible stock and $300 million in debt from Saudi Arabia’s Public Investment Fund (PIF) over the course of 2022. Inside the lenses you'll find what Magic Leap calls a Photonics Chip and it was sort-of billed as something which would beam imagery directly into your retina, building a realistic 3D world inside your actually real world. ![]() The front features two round lenses, with the frame around them dotted with cameras that are used to scan the surroundings, measure depth and ensure that when it does "project" images into the real world space, that they're accurately positioned and placed. It adjusts around the back of your head with an expanding headband which automatically fits to the size and shape of your head, theoretically making it for more comfortable and more likely to stay securely in place than what you'll experience from any other VR, AR or MR sets. This is helped further by swappable nose and fore-head rests. It looks nothing like Microsoft's HoloLens. We're yet to try it ourselves yet, but on design alone it has already set itself apart from the competition. To look at, Magic Leap's first physical headset looks more like something Vin Diesel wore in Chronicles of Riddick than a traditional headset. So how does Magic Leap work and what does it mean for the future? Magic Leap One - the hardware But unlike other examples, like Microsoft's HoloLens, this uses a proprietary technology to make the blend between real and virtual almost undetectable. Magic Leap, essentially, uses a head-worn display to project virtual images on the real world. What is the difference between VR and AR?.Even now multiple companies have shifted and changed what type of VR they offer, and even Magic Leap has announced second generation headset which is quite different to its first one. Even the big names in tech seem to think this is the future. In fact, they were so bold they secured billions in funding from the likes of Google and Qualcomm. ![]() There's no denying, the ambitious startup made some bold claims.
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