Meta plans to create a new class of non-voting stock, to be distributed to existing shareholders as a dividend, to help fund its artificial intelligence push. Chief financial officer Susan Li said the shares would support capital raising, employee pay and acquisitions while preserving the voting power of existing Class A and B shareholders. The company reported third-quarter revenue of $64 billion, up 26 per cent, though costs and expenses rose 68 per cent. Chief executive Mark Zuckerberg said more than 10 million people in the United States and Canada had set up Muse personal agents within six weeks.
Meta says its AI app Muse has more than 10 million users, and chief executive Mark Zuckerberg says shopping is among its most popular uses. About 25% of people who set up Muse use it daily. Over a quarter of engaged users shopping through the agent had an average purchase above $200. Meta plans to keep Muse free for most users while taking a share of commerce on the platform, and expects it to become profitable once it scales.
Meta's AI companion Muse has reached 10 million US downloads in its first 40 days, placing it among only a dozen mobile apps to do so. Market data from Sensor Tower shows 10.9 million total downloads since its September debut. Meta has boosted the app through its other services and by spending heavily on advertising. Muse also shows stronger user retention than rival AI apps such as ChatGPT, Claude and Grok, and its daily active users reached 2.5 million on October 16. Muse is currently available only in the United States and Canada.
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Meta has suspended the sharing feature of Muse, its new general-purpose AI agent, after researchers found it can expose sensitive information. Security firm Claroc said it listed 6,800 shared conversation links, and opening a few hundred revealed private material. The material included an executive-search note, a loan application, a bank fraud alert, a property performance report and a staff vacation calendar. Meta said it is reviewing the issue and considering changes to how the links can be discovered. Claroc said it reported the findings through Meta's bug bounty program on October 8.
Meta has launched its Muse assistant as a dedicated iPad app, just a month after its mobile debut. The app, which has topped 6.6 million installs, allows users to connect accounts for tasks like booking reservations and ordering groceries. New connectors for small businesses and retail partners have also been added, though the technology can still face issues with websites blocking access.
