Meta Shares Edge Toward $700 Amid OpenAI Agent Rumors Challenging Muse Growth

Meta shares drifted toward $780 on Muse optimism before slipping back to near $720 amid OpenAI agent rumors and rising cost concerns.

Written by:

Skerdian Meta

•
Monday, September 28, 2026
•
3 min read

•
Last updated: Monday, September 28, 2026

Quick overview

• Meta shares climbed close to $780 on strong Muse adoption and upbeat sentiment from Meta Connect, later retreating to around $720.
• Investor confidence in Meta’s growth sustainability is being weighed down by worries over OpenAI’s anticipated agent and higher computing requirements.
• Although Muse is gaining users rapidly, Meta confronts notable financial hurdles—steep capital outlays and legal expenses—that may weigh on future profitability.
• Investors are watching closely to see whether Meta can turn its sizable infrastructure spend into lasting revenue growth while navigating regulatory oversight.

Meta shares rose toward $780 on optimism around Muse, then slipped back toward $720 as rumors of an OpenAI agent, climbing compute needs, and higher spending renewed worries about the cost of sustaining growth.

Meta Stock Pulls Back Toward $720

Last Thursday, Meta shares approached $780 after strong Muse uptake and enthusiasm from Meta Connect lifted sentiment, hitting an intraday high near its 52‑week peak of $779.82 before a sharp reversal.

Today, META is down roughly 4% to around $720, erasing much of last week’s gain as investors digest news that OpenAI may reveal a new “o” agent at its September 29 DevDay keynote—a product that could directly challenge the consumer momentum behind Meta’s recent rise.

OpenAI Threatens Muse Momentum

Since its September 8 launch, Muse has become a key driver of Meta’s share price. The consumer‑focused personal assistant has reportedly logged over 3.4 million downloads and about 700,000 daily active users, briefly topping the U.S. App Store ahead of ChatGPT.

Nonetheless, reports that OpenAI is building a cloud‑based agent able to handle longer‑horizon tasks—such as managing email after the app is closed—have added a fresh competitive worry.

Such a product could add further pressure on Meta at a time when investors are increasingly scrutinizing whether Muse can sustain its rapid uptake.

Rapid Growth Creates Compute Pressure

Muse’s architecture is said to depend on dedicated virtual machines, so CPU, memory, and storage needs can grow with user activity.

This presents a significant financial challenge. Meta forecasts capital spending of roughly $125 billion to $145 billion for 2026, whereas market expectations point toward about $197 billion in 2027 and $215 billion in 2028.

Strong user adoption does not guarantee immediate revenue. Oppenheimer estimates roughly 340,000 U.S. downloads per day, noting that even an optimistic scenario of 500,000 daily downloads maintained for over a year might yield only about 4% extra revenue in 2027.

Meta Connect Strengthens Growth Story

Meta Connect has added another optimistic note through fresh hardware and technology initiatives, including Muse, upgraded smart glasses, and virtual‑reality products.

This approach could eventually widen Meta’s revenue base beyond advertising to include hardware, subscriptions, and digital content, though the financial contribution from these ventures remains uncertain.

Accordingly, investors will monitor hardware shipments, subscription conversion rates, and user engagement as Meta steps up investment across its ecosystem.

Meta Stock Faces the Next Test

Meta’s breach of the $750 level has reinforced the technical recovery and returned the stock to focus. The next phase, however, hinges on whether the firm can convert its substantial spending into sustainable revenue growth.

For the moment, the $700 psychological threshold has been cleared, and the $796 Wells Fargo price target offers another reference for investors. The rally has improved but has not hit fresh record highs, and rising capital needs, legal costs, and regulatory pressures could continue to weigh on the stock if growth does not keep up.

Meta Chart Weekly – September Has Been Strong for Meta Stock

Legal and Regulatory Costs Remain High

Meta also faces sizable legal expenses. It has agreed to a framework for settling federal litigation over teen safety related to Facebook and Instagram, noting that the legal charge could reach roughly $10 billion this quarter. The company denies wrongdoing, and the settlement remains pending court approval.

Regulatory scrutiny also covers its Ray‑Ban Meta smart glasses, especially privacy worries about their recording functions in Europe.

Spending Creates a Higher Hurdle

Meta’s massive infrastructure spending remains a central risk alongside competition. Data centers, semiconductors, networking equipment, and computing capacity demand substantial capital before they can produce returns.

The September rally lifted META by about 36%, yet the later slide back toward $720 illustrates how fast sentiment can shift when investors doubt whether growth will justify the expense.

With Muse confronting potential competition from OpenAI and its rapid adoption driving higher compute needs, Meta must show that its expanding infrastructure investment can turn into sustainable revenue and cash‑flow growth.

Meta Earnings Report

Meta reported Q2 2026 revenue of $60.8 billion, up 28% year‑over‑year, beating estimates, but posted an earnings‑per‑share (EPS) figure of $6.18, missing the expected $7.14. Surging expenses, legal and severance charges, and heavy capital spending on AI infrastructure squeezed margins and pushed free cash flow lower. 

Key Financial Metrics

• Revenue: $60.80 billion, reflecting a 28% year‑over‑year increase.

• Earnings Per Share (EPS): $6.18 diluted, falling short of consensus forecasts.

• Net Income: $15.85 billion for the quarter.

• Total Costs and Expenses: $42.03 billion (including $2.4 billion in legal charges and $1.18 billion in severance).