Investing.com — Shares of Meta Platforms (NASDAQ:META) fell 4.2% to $720.36 on Monday, as OpenAI’s expected reveal of a still-active rival AI assistant adds a new layer of competitive pressure to a stock that had surged about 30% in September alone.
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The catalyst for Monday’s decline was a September 27 report from BeepComputer describing OpenAI’s “o” assistant as a cloud-based agent capable of running long-term tasks, including email management, even after a user closes the ChatGPT app. OpenAI is expected to officially unveil the product during its DevDay 2026 keynote on Tuesday, September 29.
Meta is currently the most direct expression of this competitive threat. The stock’s massive rally in September hinges almost entirely on the success of Muse, its own personal AI agent, making OpenAI’s counterproduct the most relevant risk variable for stocks.
Since its launch on September 8, Muse has accumulated over 3.4 million downloads and secured the top spot on the US App Store, surpassing ChatGPT. This performance pushed META to an intraday high near its 52-week high of $779.82 and led to further increases in the price target. Wells Fargo recently raised its target from $640 to $796, citing Muse’s launch strength. Citi analyst Ronald Josey noted that Muse “emerges as the centerpiece of Meta’s AI product strategy,” with deep integrations across the shopping, travel and productivity verticals.
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Company expansion and MongoDB spinoffs
In a bid to expand its business footprint, Meta also announced the launch of its Meta Enterprise platform on Monday. The new division will offer Meta’s AI models and agents, including Muse and Meta Business Agent, to enterprise customers, although Meta has not specified pricing tiers or revenue model.
To lead the initiative, Meta has named Chirantan “CJ” Desai as Director of Enterprise Platform, reporting directly to Mark Zuckerberg. Desai was previously CEO of MongoDB (NASDAQ: MDB), and his sudden departure caused MongoDB shares to fall 18% to $336.79 intraday. MongoDB has since reappointed founder Dev Ittycheria as interim CEO while it conducts a formal search for a permanent replacement.
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