Plus: Dutch chip-equipment supplier ASM International lifts sales outlook as AI fuels orders. And SpaceX shares are trading at a big discount from its IPO price. Julie Chang hosts.
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[00:00:01] Here's your afternoon TNB Tech Minute for Tuesday, July 28. I'm Julie Chang for The Wall Street Journal. Eyewear company Essilor Luxottica said sales growth slowed a little in the second quarter from the first, but it's still seeing a continued rapid increase in revenue from its smartglasses. The Franco-Italian manufacturer said sales of Ray-Ban and Oakley smartglasses, powered by AI and produced with Meta, nearly doubled in the second quarter.
[00:00:28] The company is banking on the tech-infused glasses to help fuel its growth over the long term. But the group could face competition from other smartglasses models in the near future, with Google and Apple preparing their own models of the wearable tech. Chip equipment supplier ASM International said it expects next year's sales to grow more than previously thought, as the race to build AI infrastructure and new devices fuels demands for chips and the tools needed to make them.
[00:00:55] The Dutch company's previous 2027 revenue target was between $4.2 to $5.2 billion. It announced today that it expects to exceed the top end of that range. ASM International also reported that second quarter sales rose 24% on-year. Its shares are up 46% since January, despite bouts of volatility that have weighed on the sector. And shares of SpaceX are trading about 18% below its IPO price of $135.
[00:01:25] Elon Musk's space exploration and AI company debuted on Wall Street mid-June. The stock climbed above $200 shortly after its hotly anticipated market debut. It has since shed some $1.2 trillion in market cap, as it wipes those early gains and continues to fall below its IPO price. It was up about 2% in mid-afternoon trading. And that's your TNB Tech Minutes. We'll have another QuickTech Update in the morning. Thank you for listening. Thank you.