Sep 18, 2025 - Axios Events

Exclusive: Snap doesn't need to raise funds for Specs, but could consider it, CEO says

Ben Berkowitz

Snap CEO Evan Spiegel in a black t-shirt and jeans holding a microphone, sitting on a white armchair against a dark blue background with large white thumbs-up and play icons. — Snap CEO Evan Spiegel speaks at Media Trends Live. Photo: Vita Phoenix/Edin Studios on behalf of Axios

Snap doesn't need to raise funds to launch its new Specs augmented reality glasses next year, but could consider opportunities to accelerate its expansion, CEO Evan Spiegel said at the Axios Media Trends Live event on Thursday.

Why it matters: The company is running head-long into competition with Meta, which is leaning heavily into its own smart glasses platform.

What they're saying: "I do think we are at a bit of an inflection point, although we certainly have the capital to continue to invest," Spiegel said of growing market competition in hardware and artificial intelligence.

Asked if Snap would raise money to invest, Spiegel said "no need to, but I think, you know, if there's an opportunity for us to accelerate, that's something that we could consider."

Context: Over the summer, the company said it would launch a new, augmented-reality version of its smart glasses, called Specs, in 2026.

The company faces stiff competition from Meta, which has leaned heavily into AR glasses with its Ray-Ban line, including a new and well-received model announced this week.
The Information recently reported Snap was considering raising funds to support the Specs launch.

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Exclusive: Snap doesn't need to raise funds for Specs, but could consider it, CEO says

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