Stock Market Today, Sept. 9: Meta Surges Over 6.5% on Muse AI Agent Launch

Social media and digital advertising giant, Meta Platforms (META +6.55%), closed at $653.69, up 6.55% on Wednesday. Meta surged after launching Muse, its personal artificial intelligence (AI) agent. The autonomous product, which can shop online, book flights, and organize calendars, could be key to monetization for the firm.
Trading volume reached 35.2 million shares, coming in about 98% above its three-month average of 17.8 million shares. Meta Platforms IPO’d in 2012 and has grown 1,455% since going public.

How the markets moved today

The S&P 500 (^GSPC -0.48%) fell 0.48% to 7,636, while the Nasdaq Composite (^IXIC -0.64%) fell 0.64% to 26,253. Among social media peers, Alphabet closed at $330.65, down 2.28%, and Snap closed at $5.31, down 2.21%, showing softer sentiment across digital-ad names even as Meta moved higher.

What this means for investors

Meta’s Muse launch marks a significant shift in narrative for the tech giant, which has struggled this year as concerns about its high AI spending and a social media addiction trial weighed on the stock. Now, not only is the legal case settled, but Muse also gives some reassurance that Meta’s capex investments will bear fruit.

Meta rallied today because its vast data bank and massive consumer base may serve as a powerful launchpad for the AI agent. Muse is an impressive tool with a tiered subscription that will make it free for some users. Morgan Stanley predicted it could now take a sizable chunk of the evolving AI agent market, potentially worth around $30 trillion.

That said, it is early days and Meta’s high-profile products haven’t always met expectations. As such, it is worth waiting until the buzz has faded and investors can view clear numbers on adoption and revenue generation before reevaluating the stock.