Mark Zuckerberg’s estimated fortune rose by about $25 billion in a single trading session after Meta shares surged more than 11 per cent, following strong early demand for the company’s new AI assistant, Muse.
Meta shares closed at $741.25 on Monday after climbing about 11.4 per cent, lifting the company’s market value by roughly $192 billion in one session. Forbes’ real time figures put Zuckerberg’s estimated wealth at $253.6 billion, placing him sixth among the world’s richest people.
The Brandspur Brand News reports that the market rally came as new data showed rapid early adoption of Muse, Meta’s personal AI agent launched on September 8.
Muse reached the top of Apple’s US free iPhone app chart 10 days after its release. Sensor Tower estimated that the app had recorded more than 730,000 US downloads by September 18, exceeding the roughly 697,000 downloads ChatGPT recorded during its first eight days on the App Store in 2023.
Further data from Apptopia showed that by September 21, Muse had generated more mobile downloads during its first 12 days than ChatGPT achieved over the same period in the US and Canada. Muse also recorded more daily active users at that stage, according to the data.
Unlike a conventional chatbot focused mainly on answering questions, Muse is designed to carry out tasks on a user’s behalf. Its capabilities include sending emails, booking travel and completing forms across connected services, with the agent operating through a dedicated virtual machine and browser.
Meta offers Muse through a free tier, while paid plans cost $20 and $100 per month. The paid options provide greater capacity for users who want the agent to handle more tasks.
The company has also built safeguards into the system. Users decide which connected services Muse can access, while confirmation is required before sensitive actions such as sending an email or completing a purchase. Meta has said conversations and virtual machine data are not sent to its advertising systems.
The early response to Muse has also drawn attention to Meta’s efforts to generate direct consumer revenue from artificial intelligence. The company’s core business has historically been built around advertising, making paid AI services a different potential revenue stream.
Investor sentiment received another boost when Wells Fargo raised its Meta price target from $640 to $796, while retaining its overweight rating and identifying Muse usage as an important indicator for Meta’s wider AI strategy.
Meta is expected to provide further insight into its AI plans during its Meta Connect event on September 23 and 24. The company has already announced plans to bring Muse to its AI glasses.
Beyond the assistant itself, Meta is expanding the infrastructure supporting its AI ambitions. The company announced Petal on September 21, a proposed 7,000 kilometre subsea cable connecting the United States and France, with a planned capacity of 1 petabit per second and expected service commencement in 2029.
The combination of strong early interest in Muse and Meta’s broader AI infrastructure expansion has placed the company’s artificial intelligence strategy firmly in focus, while Monday’s share movement delivered a significant boost to Zuckerberg’s personal fortune.
COURTESY: brandspurng.com
