Snap launches high‑price SPECS AR glasses amid stock slump and celebrity‑ambassador rumor

Snap Inc. unveiled its SPECS augmented‑reality glasses at the Augmented World Expo in Long Beach. The consumer wearable costs $2,195, weighs about a baseball, and offers four hours of mixed‑use battery life with a charging case. Snap says the frames can browse the web, run apps, display games, translate signs, capture video and provide AI assistance. The devices are slated to ship this fall in the United States, the United Kingdom and France.

CEO Evan Spiegel presented SPECS as a "see‑through computer" and a new chapter for the company, which has seen its market value fall from a 2021 peak of about $130 billion to roughly $7.5 billion, with the stock down more than 90%. Investors reacted negatively to the launch, and the share price dropped sharply after the event.

Separately, an unconfirmed report suggests Snap is in talks to grant actor Robert Downey Jr. a stock package worth about $100 million to serve as an ambassador for the glasses. Snap and Downey have not commented on the rumor.