Meta stock rises after Muse launch draws millions of downloads
Business
Meta, the company behind Facebook and Instagram, just saw its stock climb after launching Muse, its new AI agent.
Muse has quickly gone viral, climbing app charts and pulling in millions of downloads in just two weeks.
Thanks to this buzz, Meta is now looking like a serious contender in the consumer AI space.
Muse adopts transaction cut, analysts upbeat
Unlike Meta's usual ad-driven platforms, Muse plans to make money by taking a cut from user transactions on the app.
This fresh approach could mean more revenue as Muse grows.
Analysts are upbeat too: KeyBanc Managing Director Justin Patterson says Meta's AI team has been "on fire" and that it has now managed to build a consumer-facing AI product at a time when many other companies have struggled to do so.