Meta Platforms (NASDAQ: META) shares declined 4.7% to $715.62 on Monday, as investors weighed the potential competitive threat from a new artificial intelligence assistant reportedly being developed by OpenAI. The drop comes after a strong September rally that had pushed the stock near its 52-week high.
According to a Sept. 27 report from BleepingComputer, 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 management, even after users close the ChatGPT app. The product is expected to be unveiled at OpenAI's DevDay 2026 keynote on Tuesday, Sept. 29.
The news arrives as Meta's own AI agent, Muse, has been a key driver of recent stock performance. Since its launch on Sept. 8, Muse has accumulated more than 3.4 million downloads and reached the top position on the US App Store, surpassing ChatGPT. This early adoption helped push Meta stock toward its 52-week high of $779.82 and prompted analysts to raise price targets. Wells Fargo recently increased its target to $796 from $640, citing the strength of the Muse launch. Citi analyst Ronald Josey noted that Muse is “emerging as the centerpiece of Meta’s AI product strategy,” with integrations spanning shopping, travel, and productivity.
The potential OpenAI product introduces additional competition in an area that has recently supported Meta's stock performance. Investors are now assessing whether OpenAI's assistant could erode Muse's early momentum, especially as Meta seeks to expand its AI offerings beyond consumer-focused products.
Meta expands into enterprise AI
On Monday, Meta announced the launch of Meta Enterprise Platform, a new business unit focused on helping companies deploy the company's AI technology. CEO Mark Zuckerberg described the platform as the company's “next major pillar.” The initiative combines 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, including 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. This move expands Meta's AI ambitions into enterprise technology alongside its existing consumer products, advertising, and social media businesses.
Zuckerberg noted that Meta already serves billions of consumers and helps hundreds of millions of businesses reach customers. The enterprise push gives investors another part of Meta's AI strategy to assess as competition from OpenAI and other AI companies develops.
CJ Desai to lead enterprise platform
Meta has appointed Chirantan “CJ” Desai as chief enterprise platform officer, reporting directly to Zuckerberg. Desai joins from MongoDB, where he served as 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's 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 company's dual focus on consumer and enterprise AI positions it to compete across multiple fronts, but the reported OpenAI assistant adds a new variable to that equation.
This article is for informational purposes only and does not constitute financial advice.
