Home / Business and Economy / Meta AI Agent Launches, Stocks Wobble on Inflation Fears
Meta AI Agent Launches, Stocks Wobble on Inflation Fears
9 Sep
Summary
- Meta's new AI agent, Muse, can autonomously perform tasks like booking travel and managing payments.
- Biotech firm Evommune's drug candidate failed a key trial for atopic dermatitis.
- Braze exceeded Q2 earnings but issued weaker profit guidance, causing stock to fall.
U.S. stock futures traded lower on Wednesday, influenced by rising oil prices exceeding $100 a barrel and anticipation of inflation data. This economic backdrop could bolster expectations for Federal Reserve interest rate hikes later this month.
Meta Platforms saw its shares climb in premarket trading following the official launch of Muse, its autonomous AI personal agent. This development signifies a major stride in Meta's strategy to monetize its artificial intelligence investments, introducing subscription plans ranging from $20 to $100 monthly, alongside a free tier.
In contrast, Evommune experienced a significant stock decline after its drug candidate, EVO756, did not meet trial endpoints for atopic dermatitis. The company indicated it would not proceed with this indication but plans to continue development for migraine prevention.
Braze shares tumbled as the customer engagement software company reported better-than-expected fiscal second-quarter results. However, the company issued weaker-than-expected profit guidance for the current quarter, impacting investor sentiment.
