New York, June 3, 2026, 16:06 (EDT)
Meta Platforms shares gained roughly 4.2% late Wednesday after the parent of Facebook and Instagram introduced an AI business agent, a move investors took as an indication that its large spend on artificial intelligence may bring in fresh paid offerings. Shares climbed $25.17 to $622.80, putting Meta’s market cap near $1.60 trillion on the latest quote.
The move caught attention as the market traded lower. The SPDR S&P 500 ETF dropped 0.6%. The Invesco QQQ Trust, which tracks the Nasdaq 100, was off 0.1%.
Meta’s problem isn’t a lack of AI spending—it’s whether it can sell the stuff. The enterprise AI market is crowded. Meta is trying to push its AI to businesses through WhatsApp, Messenger and Instagram, looking to sell to companies that already use those apps to talk with customers.
Meta showed off its new product at the Conversations conference in London, where it said the Business Agent will handle customer questions, suggest products, schedule appointments, screen leads, and wrap up sales. Over 1 million businesses now use earlier versions on WhatsApp and Messenger. Meta said the agent rollout is going global and will include Instagram.
Meta is targeting enterprise customers with its new tool, head of product Naomi Gleit told Reuters. The product will be free to start, with plans for paid subscriptions later this year. Meta is also working on a larger platform meant to link up with Shopify, Zendesk, Shopee and others.
Mark Zuckerberg said in taped remarks at a London event that the new agents would “eventually help you run your whole business,” according to the Wall Street Journal. For bigger firms using WhatsApp, pricing will shift to usage-based billing instead of a set fee, the WSJ said. The Wall Street Journal
Meta in April raised its 2026 capex guidance to $125 billion to $145 billion, up from its previous range of $115 billion to $135 billion. Capex includes spending on data centers and servers. First-quarter revenue was up 33% at $56.31 billion, with more ad impressions and higher ad prices lifting results.
Meta is stepping up pressure on OpenAI, Anthropic, and Alphabet’s Google in enterprise AI, Reuters reported. Meta stands out because its messaging apps already reach users every day. Alphabet shares slipped about 0.9% late Wednesday.
Morgan Stanley’s Brian Nowak is still positive on the stock and puts Meta among his favorite U.S. internet names, according to Investor’s Business Daily, with a price target of $775. Meta is down about 10% this year and trades some 25% under its 2025 high, the report said, pointing to investor skepticism on AI infrastructure returns.
The trade still carries risks. Meta lost a court fight on the same day to block the EU’s “gatekeeper” designation for Messenger under the Digital Markets Act, which targets big digital platforms. Reuters also said Meta is looking into an incident where hackers used an AI support feature to break into top Instagram accounts. Reuters
Meta is still leaning on advertising. The company’s Family of Apps brought in $55.91 billion of its $56.31 billion revenue in the first quarter. Reality Labs lost $4.03 billion on an operating basis.
So Wednesday’s rally is resting on a basic test now. Investors need to see if business agents, AI subscriptions and the rest can turn into steady revenue before spending climbs again.
