Meta's Muse AI Agent Hits 2.8M Downloads, Analysts See $10.8B Revenue Potential
META sits 43% above its 52-week low of $520.26.
Summary
Meta's new AI agent Muse, launched September 8, has clocked 2.8 million downloads in its first 12 days, outpacing ChatGPT's 1.3 million in the same period. The app, which can execute multi-step tasks like booking travel and selling items, is free with $20 and $100 monthly tiers. Jefferies estimates Muse could generate $10.8 billion in annualized revenue by end-2027 if it reaches 1 billion users with 3% paid conversion, and raised its price target to $875. Shares surged 11% on Monday, adding over $200 billion in market cap, and were up 1.5% Tuesday. This follows Meta's earlier cloud business push to monetize AI compute, but Muse represents a direct consumer AI product with early traction. Watch for international expansion and paid conversion rates as key metrics.
At the time of this announcement, META was trading at $744.52 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.9T. The 52-week trading range was $520.26 to $785.73. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: CNBC TV18.