It is the first keynote since Meta added AI to its Ray-Ban smart glasses, created through a partnership with luxury eyewear giant EssilorLuxottica.

In the second-quarter earnings report, Meta CEO Mark Zuckerberg said the smart glasses were “well received” and sold better than expected.

Still, Reality Labs, the division responsible for Meta’s VR, AR and the metaverse, is losing money. Zuckerberg has positioned both AI and the metaverse as long-term bets that may take years to pay off. Meta had previously stated that expenses will exceed revenue “due to our ongoing product development efforts and investments to further scale our ecosystem.”

The Connect keynote could be an opportunity for Meta to showcase to its investors the projects the company is rumored to be working on, such as the latest model of the Quest headset – as the company is in direct competition with Apple’s Vision Pro – or the long-rumored prototype of AR glasses, known internally as Project Orion.

Since Meta’s AI chatbot is integrated into apps like Instagram, Facebook, and WhatsApp, you can expect some updates on those efforts as well as the company looks to keep users in its ecosystem.

We will be live blogging the event as it streams on Meta’s Facebook page at 1pm.