Meta Platforms (META.TO) is facing increased investor scrutiny ahead of OpenAI’s expected September 29 DevDay keynote, where the company is reportedly set to unveil a powerful AI assistant known as the “o” agent.
The rumored cloud-based assistant could handle long-running tasks, potentially surpassing the capabilities of existing consumer AI. Its expected launch is seen as a direct challenge to Meta’s personal AI agent, Muse, which has helped drive the stock’s recent rally.
Meta shares fell more than 4% on Monday, September 28. The competitive threat from OpenAI contributed to the decline, while investors also appeared to rotate out of mega-cap growth stocks.
Meta is also making a significant push into enterprise AI, underscoring the intensifying competition across the artificial intelligence sector.