Vuzix (VUZI) Receives $5 Million Investment from Quanta, Achieves Waveguide Production Targets
SFIO CRACHO/Shutterstock.com
This latest investment brings Quanta's total investment in Vuzix to $15 million, although the total anticipated investment from the company is $20 million. According to Vuzix, this latest capital injection 'strengthens' the partnership between Vuzix and Quanta and 'expands' Vuzix's waveguide production capabilities. The investment was made in the form of a convertible note with a conversion price of $8.00 per share.
Meanwhile, Vuzix has successfully achieved its waveguide production and yield targets. The company successfully scaled its proprietary waveguide manufacturing process to meet the growing demand for its solutions. This milestone is crucial for enhancing the company's state-of-the-art waveguide manufacturing capabilities. Vuzix said that the capital injection and the achievement of a key milestone position it to deliver affordable, lightweight, and performance-driven AI smart glasses for mass-market adoption.
Vuzix Corporation (NASDAQ:VUZI) is a New York-based technology company. It designs and sells smart glasses and augmented reality (AR) products. Some of its products already in the market include wearable display devices like the Vuzix Blade, M Series, Shield, and Z100, as well as waveguide optics and display engines. The company also provides engineering services and OEM/ODM solutions.
While we acknowledge the potential of VUZI as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: Goldman Sachs China Stocks: 10 Stocks to Buy and 10 Undervalued Blue Chip Stocks Analysts Recommend for Smart Investing.
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