By Meta Platforms (META) stock fell 4.7% to $715.62 on Monday as investors weighed the potential competitive impact of a new artificial intelligence assistant reportedly being developed by OpenAI.
The decline came after a Sept. 27 report from BleepingComputer said OpenAI is preparing an always-on AI assistant, reportedly called “o,” that could operate as a cloud-based agent capable of handling long-horizon tasks, including email, even after users close the ChatGPT app.
OpenAI is expected to unveil the product at its DevDay 2026 keynote on Tuesday, Sept. 29.
The development comes after Meta shares gained roughly 30% in September, driven largely by the early performance of the company’s Muse AI agent.
OpenAI assistant puts focus on Muse
Meta’s Muse has emerged as a key part of the company’s AI strategy since its launch on Sept. 8.
The app has accumulated more than 3.4 million downloads and reached the top position on the US App Store, surpassing ChatGPT.
The strong early adoption helped push Meta stock toward its 52-week high of $779.82 and prompted analysts to raise their price targets.
Wells Fargo recently increased its price target for Meta to $796 from $640, citing the strength of the Muse launch.
Citi analyst Ronald Josey said Muse is “emerging as the centerpiece of Meta’s AI product strategy,” with integrations spanning shopping, travel and productivity.
The reported OpenAI product could therefore introduce additional competition in an area that has recently supported Meta’s stock performance.
The potential launch also comes as Meta seeks to expand its AI offerings beyond its consumer-focused products.
Meta expands into Enterprise AI
Meta announced the launch of Meta Enterprise Platform on Monday, creating a new business focused on helping companies deploy the company’s AI technology.
Meta CEO Mark Zuckerberg described the platform as the company’s “next major pillar.”
The initiative will combine Meta’s AI models, agents and computing infrastructure with its existing relationships with businesses.
The platform will initially provide businesses and developers with access to Meta’s broader AI technology stack. This includes the Muse agent, Meta Business Agent, Muse API and Muse Code.
Meta said the tools are designed to help companies use AI to grow their businesses and improve operations.
The move expands the company’s AI ambitions into enterprise technology alongside its existing consumer products, advertising and social media businesses.
Zuckerberg said Meta already serves billions of consumers and helps hundreds of millions of businesses reach customers.
CJ Desai to lead enterprise platform
Meta has appointed Chirantan “CJ” Desai as chief enterprise platform officer. Desai will report directly to Zuckerberg.
Desai joins Meta from MongoDB, where he was president and CEO.
He previously led product and engineering at Cloudflare and spent nearly eight years at ServiceNow, including as president and chief operating officer.
Zuckerberg pointed to Desai’s experience across AI, infrastructure, business software and cybersecurity.
Desai said Meta Enterprise Platform would focus on turning Meta’s AI technology stack into products and services that businesses can deploy directly.
He added that security and privacy would be built into the platform from the beginning, following Meta’s approach with its Muse technology.
Meta said its longer-term goal is to become a platform that businesses can use to scale operations as AI changes areas including customer service and innovation.
The enterprise push gives investors another part of Meta’s AI strategy to assess as competition from OpenAI and other AI companies develops.
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