Meta Platforms shows off Quest 3 headset, AI updates, as the face race heats up
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As the race between Silicon Valley heavyweights for computing devices worn on people's faces heats up, Meta Platforms (NASDAQ:META) on Wednesday showed off its newest wares. 
The new Quest 3 headset was officially announced at Meta's Connect developer conference on Wednesday after it was first previewed by the company in June. The new headset will set consumers back $499, up from the $300 Quest 2, and incorporates both virtual and augmented realities, something that Apple's (NASDAQ:AAPL) upcoming Vision Pro incorporates.
The Vision Pro, slated to cost $3,499, was unveiled in June and is set to be released early next year.
On Tuesday, TF International Securities analyst Ming-Chi Kuo said that after getting estimates from some component suppliers, he is expecting 2024 shipments of the Vision Pro to be between 400,000 and 600,000, well below the expectation of some in the marketplace for 1M units.
The updated Quest 3, which is available for pre-order starting today and shipping on October 10, incorporates Qualcomm's (QCOM) Snapdragon X2 Gen-2 chip. It also comes with higher resolution than the previous Quest 2, the company said.
Meta and CEO Mark Zuckerberg added that the new headset sports a thinner design and upgraded lenses from the previous model. The company also showed off new controllers that can be used in conjunction with the headset. 
Menlo Park, California-based Meta (META) said it has roughly 500 games and apps for the Quest 3, including offerings from Sony, Ubisoft and a Stranger Things game.
Meta (META) also unveiled new generative artificial intelligence tools, including AI image editing on Instagram and new chat stickers for Instagram, Facebook, WhatsApp and Messenger.
The company also announced its own generative AI chatbot and it is working with Microsoft (MSFT) to bring current real-time web information via Microsoft's Bing browser.
The partnership with Microsoft (MSFT) extended to other areas, as Meta said Xbox cloud games will come to the Quest 3 in December, while Microsoft 365 will be available sometime this year. 
Meta's Zuckerberg also said the company would unveil topic-centric chatbots, including ones for sports, travel, food and other categories.
In addition, Meta (META) also showed off the next-generation of its Ray-Ban smart glasses that will play music, take calls and have the ability to livestream. The new smart glasses will cost $299 and will be available to buy online and in stores on October 17 in 15 countries, including the U.S., Canada and Australia.
Meta (META) shares fell more than 2% in mid-day trading on Wednesday.

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