Meta stock enjoys best month since 2022 on AI momentum — SkimNews
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- Meta's stock gained 27% in September — its best monthly performance since November 2022 — closing at $725.18 on Wednesday from $572.34 at the end of August.
- The Muse personal AI agent app, which debuted Sept. 8, topped rival OpenAI's ChatGPT in Apple iOS downloads, becoming a major consumer hit.
- Mark Zuckerberg called Muse a "centerpiece" of Meta's product and business strategy at the September Connect conference, where the company also revealed the Muse Charm AI pendant hardware.
- Meta hired MongoDB CEO CJ Desai to lead its new Meta Enterprise Platform business unit and debuted Muse for Small Business agent technologies.
- BofA Global Research projected the enterprise AI solutions market will exceed $1 trillion by 2028, arguing Meta's consumer data could give it advantages in selling AI to consumer-focused companies.
- September was the fifth-best month on record for Meta; the stock outperformed all mega-cap peers while the Nasdaq gained almost 2%.
Why it matters: Meta's 27% September surge — its best month since November 2022 — reflects investor bets that the company can convert Muse's viral traction and consumer data into a share of the enterprise AI market, projected by BofA to exceed $1 trillion by 2028. The new Meta Enterprise Platform unit and CJ Desai hire show Meta building out enterprise sales while distributing AI models through hyperscaler platforms.
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