News About Muse Drove a 1-Day 11% Jump in Meta Stock. But the AI Agent Could Be Even More Valuable Than the Market Is Giving It Credit For.
The value of Meta's new AI agent goes beyond the subscription revenue it could generate.
Overview
Meta Platforms (NASDAQ: META) released its Muse AI agent about two weeks ago, and it appears to have another hit on its hands. The Muse app has climbed to the top of the app store charts in recent days, ousting OpenAI's ChatGPT. That has made many Wall Street analysts optimistic that Meta's massive AI spending may be about to pay off.
People are using Muse for all sorts of activities, with Meta positioning it as a virtual personal assistant. It can book tickets, shop, and send messages on users' behalf, and Meta is offering these advanced capabilities to most users for free. Power users may need to subscribe to one of its paid tiers for $20 or $100 per month to get the most out of the AI agent platform.
Details
Many analysts are highly focused on the value of Muse and Meta's ability to directly monetize the service. The stand-alone app's ascent on the app store charts led many analysts to upgrade Meta stock, and the wave of upbeat news pushed the price up 11% in a single day. But some may be overlooking a key reason why a highly engaged Muse AI user base could be so valuable to Meta Platforms' business.
Source
Originally published at www.fool.com.