Meta Platforms climbed 6.55% on the debut of its Muse AI agent, even as the broader S&P 500 and Nasdaq indices retreated and social media rivals Alphabet and Snap faced selling pressure.
Meta launched its Muse AI agent, driving shares up 6.55% on heavy volume as investors saw monetization potential.
Alphabet closed down 2.28% amid softer sentiment across digital-ad names despite Meta's gain.
Snap closed down 2.21% as social media peers showed weakness even as Meta rallied on its AI agent launch.
The S&P 500 fell 0.48% to 7,636 as Meta's surge was offset by broader market weakness.
The Nasdaq Composite fell 0.64% to 26,253, reflecting mixed tech sentiment despite Meta's gain.
Meta Platforms shares surged 6.55% to $653.69 following the launch of Muse, an autonomous AI agent capable of managing consumer tasks. While the move highlights potential monetization of Meta's massive data bank, broader market sentiment remained bearish, with the S&P 500 and Nasdaq Composite slipping 0.48% and 0.64% respectively amid weakness in digital-ad peers.
Muse is an autonomous artificial intelligence agent developed by Meta that can perform tasks such as online shopping, booking flights, and organizing calendars.
Meta shares rallied due to investor optimism regarding the monetization potential of the new Muse AI agent, which overshadowed the general market decline driven by broader economic concerns.