JPMorgan: Meta Muse Gains Traction as Consumer AI Platform $META

Meta shares have risen 21% since Muse launched two weeks ago, versus a 1% gain for the S&P 500, while Muse has climbed to the #1 free app in the US App Store with download volumes still increasing. Early traction is being attributed to strong product-market fit, leading agentic capabilities, ease of use, a privacy and safety focus, a generous free tier, and Meta’s large distribution platform. Meta has also moved quickly to expand the product, adding outbound calls to US businesses, developer connectors, a Mac app and Shop Pay for agentic checkout. The longer-term opportunity is increasingly tied to businesses building their own agents on Muse, enabling more agent-to-agent transactions rather than traditional browsing or calling. That could eventually support commission or take-rate monetisation similar to Meta’s advertising model. While some platforms, including Amazon, have resisted Muse access, broader participation is expected if agents prove incremental to traffic and transactions. Attention now turns to Meta Connect, where Meta is expected to highlight progress across models, Muse, developer tools, glasses and other hardware. The broader thesis is that Muse adoption and engage