Mark Zuckerberg adds $25bn in a day as Meta stock jumps 12%

Meta shares rose 12% to $747.91 on Monday, driven by strong early adoption of its Muse AI assistant and a raised price target from Wells Fargo to $796. Muse reached No. 1 on Apple's US App Store, with over 730,000 downloads. Meta also announced a new subsea cable project, Petal, set to launch in 2029. Amazon blocked Muse from its site, citing policy violations. Investors await Meta Connect for more AI updates.

Meta Platforms (META) rose 11.43% to $741.25, with 48.3M shares traded. Wells Fargo raised its price target to $796. The S&P 500 and Nasdaq Composite also gained. Meta's Muse AI agent leads downloads, surpassing competitors like ChatGPT, according to reports.

Meta Platforms' stock surged 12% after its AI agent, Muse, topped Apple's App Store, prompting Wells Fargo to raise its price target. The Nasdaq Composite jumped 2.3%, and the S&P 500 rose 1.6%, driven by gains in semiconductor firms. Oil prices fell 3.2% to $100.50 a barrel. Paramount reached a deal with 12 states to clear opposition to its acquisition of Warner Bros Discovery.

Meta's stock rose 11.43% after its AI agent, Muse, became the top app on Apple's U.S. App Store. Analysts raised price targets and revenue estimates, with Wells Fargo setting a target of $796 and Truist estimating $28.5B in revenue by 2030. CEO Mark Zuckerberg stated Muse could generate revenue by saving users money and facilitating commerce, rather than direct payments. Meta's free cash flow is expected to turn negative this year and worsen in 2027, according to analysts.

Meta Platforms' stock rose 11.43% to $741.25 after its new AI agent, Muse, saw strong early adoption. Apptopia reported Muse had 1.8 million iOS downloads in 12 days, surpassing ChatGPT's 1.3 million. The stock is now near Wall Street's average target of $755.28, with Wells Fargo raising its target to $796. Investors await evidence of retention, task completion, and monetization.

Meta's stock surged over 10% after Wells Fargo raised its price target to $796, citing AI product launches like Muse AI, which topped Apple's App Store. The company's shares have risen 30% in the past three months, though they are still down about 5% over the past year. Meta's CEO, Mark Zuckerberg, is set to present at the Meta Connect conference.