Meta Platforms Surges on Strong Reception of Muse Personal AI Agent
Meta Platforms (NASDAQ: META) surged by 11.43% to close at $741.25, driven largely by the positive reception of its new personal AI agent called Muse. The tool has become one of the most popular interactive AI agents on Apple's iOS app store and outperformed major competitors like OpenAI’s ChatGPT and Anthropic’s Claude in downloads. Wells Fargo analyst Ken Gawrelski raised his price target for Meta to $796 from $640, citing potential demand for paid subscriptions due to heavy usage of Muse. The stock's trading volume reached 48.5 million shares—157% above its three-month average—as investors closely watch the AI sector for signs that agentic use cases can drive returns on investment. The broader market also saw gains, with the S&P 500 rising by 1.49%, and the Nasdaq Composite up 2.26%. Other tech stocks like Alphabet (GOOGL) and Snap (SNAP) also posted modest increases.
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Topics: AI Market performance Meta Platforms Wells Fargo price target