What comes after the iPhone? Meta thinks its Orion glasses might just have what it takes — even if that means burning through billions developing it.

Rather, Meta's core social media ad business has recovered nicely from the 2022 slump, helped along by smarter artificial intelligence algorithms. Speaking of AI, Meta's open-source Llama large language models (LLMs) have also made headlines this year.

Meta's new Orion glasses may still be a prototype that costs thousands of dollars to produce, but when you put them on they feel like the future. Driving the news: These are glasses, not goggles, that can display information and even videos overlaid on the real world — like Apple's Vision Pro in many ways,