Meta Shares Rally as Muse AI Boosts Investor Sentiment

Meta Platforms shares have rallied sharply this week following the launch of the company's Muse artificial intelligence assistant, bringing the stock close to its previous record closing high.

The company's Muse AI assistant has helped drive renewed investor enthusiasm for Meta shares. [Photo: Meta Facebook]

Meta shares rose more than 11% in one session and have gained substantially during September as investors responded to the early popularity of Muse.

Reuters reported that the stock had risen more than 20% since Muse's Sept. 8 launch, adding about $200 billion to Meta's market value.

Muse is designed to perform tasks such as retrieving information, sending emails, booking travel and completing transactions. Meta offers a free version as well as paid subscription tiers.

The rally has helped revive investor optimism about Meta's large AI investments.

Analysts cited by Reuters have suggested that Muse could develop into a significant consumer AI platform and potentially become an important source of future revenue.

Meta had faced investor concerns over its heavy spending on artificial intelligence and its Reality Labs business.

The company has invested tens of billions of dollars in Reality Labs over several years as it pursued its metaverse strategy.