Meta Platforms Buys AI-Device Maker Limitless

By Elias Schisgall

Meta Platforms said it bought Limitless, a maker of wearable artificial-intelligence devices, a deal coming as Meta has shown increased interest in AI investment.

A Meta spokesperson confirmed the purchase Friday. "We're excited that Limitless will be joining Meta to help accelerate our work to build AI-enabled wearables," the spokesperson said.

Earlier Friday, Limitless Chief Executive Officer Dan Siroker disclosed the acquisition in a statement posted to the company's website.

"Meta recently announced a new vision to bring personal superintelligence to everyone and a key part of that vision is building incredible AI-enabled wearables," Siroker said. "We share this vision and we'll be joining Meta to help bring our shared vision to life," he added.

He didn't disclose the financial terms of the deal.

The Wall Street Journal reported Thursday that Meta was looking to divert more resources toward AI wearables while cutting funding for the metaverse.

"Within our overall Reality Labs portfolio, we are shifting some of our investment from metaverse toward AI glasses and wearables given the momentum there," a Meta spokeswoman told the Journal on Thursday.

The acquisition means Limitless would stop selling many of its existing products, the company said. Those include Pendant, a wearable AI device that can take notes on meetings and conversations, though the technology would be supported for at least another year for existing users. Limitless said it was making its Unlimited Plan free for all existing customers.

The company also said users would no longer be able to record meetings with the Limitless Desktop App or Limitless Web App, and that it was sunsetting its Rewind app.

Write to Elias Schisgall at elias.schisgall@wsj.com