750 million dollars in 'Saudi Sovings' Investments in 'Magic Lip' for Augmented Reality

Since the beginning of 2023, the Saudi public investment fund has pumped $ 750 million into the Magic Leap. The 14 -year -old – who is still looking for a practical business model – says it needs more. Magic Lip, which raised at least $ 3.5 billion, said it needed extra money later this month and again in January and June 2025 to fulfill its obligations when payable, “according to a report submitted by the company in the UK. -Spending Investment Fund became the owner of the majority in 2022. Campaign to develop an economy that exceeds oil -wealth. Representatives of the Public Investment Fund did not respond to the suspension requests. Founded reality amplary was established in 2010 and was seen as a leading enterprise in the creation of the future of computer science. The company, based in Florida, has collected investors financing, including the “Alphabet” business “, alphabet”, to create a headphone for consumers whose carrier makes it possible to communicate with digital things in the material world, which is a long ambition for Silicon Valley Giants such as “Google” and “Apple”. The company’s first enlarged reality producer he released in 2018 failed. After that, the company reduced almost 80% of its workforce and focused on business applications. Bloomberg News reported in July that the company recently removed 75 other posts and reduced its sales and marketing departments to convert the focus in its technology license. In the British deposit file, Magic Lip said he would try to obtain extra money in the form of stock or debt investments. The company said: “Nevertheless, there is no certainty that these efforts to new investment financing will develop,” the company said. The file says that this doubt, which casts a shadow of great suspicion, was on the ability of ‘Magic Lip’, which remains a ‘constant worry’.