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Magic Leap reportedly seeks $500 million at $6 billion valuation

  • Posted byby Dean Takahashi
  • Updated
  • 2 min

High-flying augmented reality startup Magic Leap is trying to raise $500 million at a $6 billion valuation, according to a report in Bloomberg.

The Florida startup has already raised $1.3 billion to fund its AR glasses, which have been the subject of much speculation because they can reportedly create very high-quality animations over the real world. Magic Leap has been working on its wearable device for years, and it appears the company needs more money to complete its ambitious project.

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Written by

Dean Takahashi

Dean Takahashi is editorial director for GamesBeat. He has been a tech journalist since 1988, and he has covered games as a beat since 1996. He was lead writer for GamesBeat at VentureBeat from 2008 to April 2025. Prior to that, he wrote for the San Jose Mercury News, the Red Herring, the Wall Street Journal, the Los Angeles Times, and the Dallas Times-Herald. He is the author of two books, "Opening the Xbox" and "The Xbox 360 Uncloaked." He organizes the annual GamesBeat Next, GamesBeat Summit and GamesBeat Insider Series: Hollywood and Games conferences and is a frequent speaker at gaming and tech events. He lives in the San Francisco Bay Area.