New Delhi, Sep 24— Meta’s Muse, a consumer-focused artificial intelligence agent that allows users to delegate tasks such as shopping, travel booking and form-filling, has emerged as a major talking point for investors after rapidly gaining traction in the US and Canada.
Launched under Meta’s AI leadership headed by Alexandr Wang, Muse overtook ChatGPT as the top free app on Apple’s App Store and Google Play Store in the two markets.
The app recorded 2.8 million downloads within two weeks of its launch, with average daily downloads growing 55 per cent in its first 10 days, according to market intelligence firm Sensor Tower.
The rapid adoption has raised concerns among investors that Muse could become a powerful comparison-shopping tool, allowing consumers to more easily identify cheaper alternatives and potentially putting pressure on established providers.
Financial stocks came under pressure amid such concerns. JPMorgan and Wells Fargo fell more than 3 per cent each during the week, while Charles Schwab declined nearly 5 per cent. Insurers including Marsh and Arthur J Gallagher also recorded losses.
Booking companies TripAdvisor and Booking Holdings fell more than 6 per cent, while Planet Fitness declined 17 per cent and the New York Times dropped 10 per cent during the week.
However, Meta shares gained nearly 13 per cent, helped by expectations that Muse could become a significant new source of revenue. Truist Securities estimates the app could generate at least USD 28.5 billion in annual revenue by fiscal 2030.
Shopify shares also gained after the company announced plans to enable Muse-based checkout through Shop Pay. PayPal separately announced a partnership allowing customers to shop and complete purchases through Muse, while companies including Stripe and Ticketmaster have also entered into similar arrangements with Meta.
The growing use of AI agents could also increase demand for computing infrastructure. The Philadelphia Semiconductor Index has gained about 7 per cent since Muse’s launch, with chipmakers Nvidia and Advanced Micro Devices among the notable gainers.
Michael O’Rourke, chief market strategist at JonesTrading, said the impact on companies partnering with Muse could become visible quickly, while the eventual losers were harder to identify.
“Meta has really found lightning in a bottle here and someone who partners with Muse is likely to be a clear beneficiary off the bat to me,” O’Rourke said.
“As far as net losers, it’s just going to take more time to find out,” he added.
Art Hogan, chief market strategist at B. Riley Wealth, played down concerns about disruption in financial services, saying price would not be the only factor determining customers’ choices.
“If you’re going to trust the management of your finances to something that Muse found for you, then you were likely not a big payer to anyone in that industry to begin with,” Hogan said.“There’s a whole lot more that goes in asset management than who’s got the cheapest price,” he added.
