It's a great time for augmented reality startup Magic Leap right now. Today, AT&T announced an important move in terms of its own growth as well as Magic Leap's: It will be investing in the startup and will soon come the exclusive "wireless distributor" for Magic Leap products in the United States.
So far, Magic Leap has raised over $2 billion to help further its hardware and software pursuits, but we've not seen a product launch or hardware to look over just yet. The company showed off additional demos and specs today of the Magic Leap One Creator Edition today during a livestream, but there's still no way for consumers to take a look at the product up close just yet.
Founder, president and CEO of Magic Leap Rony Abovitz had this to say of the AT&T investment: “We’ve joined with AT&T because we believe in a combined vision of expanding high-speed networks, edge computing, and deep integration with creative content. Coupling the strength of the evolving AT&T network with Magic Leap’s spatial computing platform can transform computing experiences for people.”
There aren't any details floating around out there about the financial terms of the partnership, but the pair have confirmed the fact that the new investment will give aT&T the exclusive rights to work alongside Magic Leap in areas including the distribution of content and network access for various devices.
The partnership will begin with the Magic Leap One's debut, the company's "lightweight, wearable computer" that's scheduled to release later this year. This is certainly a big win for both parties, and it'll be interesting to see how it plays out in the coming months.