Meta Platforms has acquired a stake of slightly below 3% in EssilorLuxottica for about €3 billion ($3.5 billion), according to people familiar with the matter cited by Bloomberg and Reuters. The transaction gives the U.S. social-media company an ownership position in the world’s largest eyewear maker, whose brands include Ray-Ban and Oakley. The investment deepens a partnership that began in 2019 and has already produced two generations of Ray-Ban Meta smart glasses and, more recently, the sport-focused Oakley Meta HSTN model launched in June. Sources said Meta is considering raising its holding to roughly 5% over time as it seeks greater control over the design, manufacturing and distribution of AI-enabled wearable hardware. Shares of EssilorLuxottica rose about 5% in Paris after the news, their biggest one-day gain in three months, while Meta’s stock was little changed in U.S. pre-market trading. Analysts said the deal signals Meta Chief Executive Officer Mark Zuckerberg’s continuing commitment to smart glasses as a potential successor to the smartphone and a key platform for the company’s artificial-intelligence services.