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French competition authority launches probe into Meta’s online advertising dominance

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The French competition authority announced on Wednesday that it has formally notified Meta Platforms (META.O) of allegations that the company abused its dominant position in the online advertising market. The ongoing investigation, expected to last several months, does not imply immediate liability.

The probe was triggered by a complaint filed in October 2022 by Adloox, an advertising platform now owned by U.S.-based Scope3. In addition, French media giants such as TF1, France TV, and BFM TV are pursuing legal action against Meta over alleged unlawful business practices in the advertising sector.

Meta also faces a high-profile trial in Spain this October, where over 80 media companies have lodged a €551 million ($645 million) complaint accusing the firm of unfair competition in advertising.

Earlier this year, online rights groups filed complaints across Europe targeting Meta’s advertising practices. On the same day as the French announcement, EU antitrust regulators fined Meta and Apple for violations of European Union laws.

EssilorLuxottica Shares Surge After Meta Acquires Nearly 3% Stake

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Shares of EssilorLuxottica (ESLX.PA), the Franco-Italian eyewear giant known for Ray-Ban, jumped 5.4% to 252 euros on Wednesday, becoming the top performer on the STOXX 600 index. The rise followed reports that Meta Platforms (META.O) acquired a nearly 3% stake in the company, valued at about 3 billion euros ($3.5 billion).

Meta, the parent company of Facebook and Instagram, already partners with EssilorLuxottica on smart glasses production and is reportedly considering increasing its stake to around 5%. Neither company immediately commented on the transaction.

Analysts at Bernstein interpret Meta’s investment as a strong endorsement of EssilorLuxottica’s potential in the smart glasses market. The move builds on discussions between the two firms last year and signals deeper collaboration in wearable technology.

Earlier this year, Meta announced a partnership with Oakley, an EssilorLuxottica brand, to develop AI-powered smart glasses named “Oakley Meta HSTN.” These glasses feature a hands-free high-resolution camera, open-ear speakers, water resistance, and integrated Meta AI capabilities, marking an expansion beyond the successful Ray-Ban Meta glasses launched in 2023.

EssilorLuxottica CEO Francesco Milleri has expressed ambitions to increase smart glasses production capacity and extend partnerships with Meta across more brands, highlighting the growing intersection of eyewear and artificial intelligence.

Apple AI Chief Ruoming Pang Departs for Meta’s Superintelligence Division

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Apple’s top artificial intelligence executive Ruoming Pang has reportedly left the company to join Meta Platforms, according to Bloomberg News. Pang, who led Apple’s foundation models team, is set to join Meta’s newly launched superintelligence division with a multimillion-dollar annual compensation package.

The move is part of an intensifying talent war among tech giants vying for leadership in AI development. Meta CEO Mark Zuckerberg recently restructured the company’s AI initiatives into a new division named Meta Superintelligence Labs, which will be overseen by Alexandr Wang, the former CEO of Scale AI. Wang, now Meta’s Chief AI Officer, joined the company following Meta’s recent investment in Scale AI—an investment that valued the startup at $29 billion.

Both Apple and Meta declined to comment on the news when approached by Reuters.

Pang’s departure underscores the increasing competition for elite AI talent, as companies invest aggressively in building cutting-edge models and technologies. Meta, in particular, has become more assertive in recruiting high-profile AI leaders to accelerate its ambitions in large language models and advanced generative systems.