Meta's Muse AI App Tops Charts, Boosting Chip Stocks

Meta Platforms' new AI agent app, Muse, has achieved a rapid surge in popularity, topping mobile app charts and driving a rally in AI chip stocks. The app, which launched on September 8, was downloaded approximately 902,000 times in its first six days, according to data from Sensor Tower. It reached the No. 1 free app position on both the U.S. iOS App Store and Google Play stores by September 18. The strong early adoption has sparked investor optimism about a potential boom in demand for the central processing units (CPUs) that power AI inference tasks. On Monday, September 21, Meta's stock rose 11%, while shares of major chipmakers also surged. Intel's stock increased 12%, AMD's rose nearly 10%, and Arm Holdings soared 17%. Analysts have pointed to Muse's success as a positive signal for Meta's substantial investments in artificial intelligence. In a note on Monday, analysts from Evercore ISI stated that the app's early popularity is "a very tangible sign of successful product innovation" and evidence that Meta's AI investments "have not been in vain.