Meta shares extend rally near record highs on Muse AI adoption and analyst upgrades

Meta Platforms shares traded up to $778, extending a rally sparked by an 11% jump on the viral launch of its Muse artificial intelligence assistant. According to Sensor Tower, Muse accumulated over 3.4 million downloads across the United States and Canada following its September 8 debut. Analysts raised price targets across Wall Street to as high as $995, with JPMorgan lifting its objective to $920 from $820. The market reception provides tangible validation for Meta's heavy computing infrastructure investments, with full-year 2026 capital expenditures projected between $130 billion and $145 billion.