What's Going On With Meta Platforms Stock Today?

Shares of Meta Platforms, Inc. (NASDAQ:META) are rising Tuesday. The company announced the acquisition of an agentic AI company. Meta Platforms shares are trending higher. What’s driving META shares up? What To Know: Meta has agreed to buy Manus, which is based in Singapore but was founded in China and builds autonomous general-purpose agents that can independently execute complex tasks like market research, coding and data analysis. Meta said it will integrate the product into their own offerings, in addition to continuing sales of Manus’ products. Analysts at Rosenblatt published an optimistic note about the acquisition on Tuesday, rating the stock at a Buy with a price target of $1,117, which appears to be helping push shares higher. Rosenblatt’s bullish note centers on how Manus’s strength will add to Meta’s AI strategy. Analyst Barton Crockett noted that Manus holds the record for the fastest startup to reach $100 million in annual recurring revenue. Manus hit that figure after eight months of commercialization. Crockett said the company’s model differentiates itself by surpassing the capabilities of “dumber” models like standard chatbots. Part of the acquisition’s value is the approximately hundred or so Manus employees that will now join Meta. Meta CEO Mark Zuckerberg has been on an AI-talent tear this year, especially during the summer when he reportedly offered certain individuals multimillion-dollar salaries to join his company. Crockett also said that Meta’s social media products, Whatsapp, Facebook and Instagram, allow for massive distribution and opportunities to integrate agentic models that can process orders and service customers for businesses on those platforms. The company has also reportedly been exploring the idea of premium AI tier offerings with monthly pricing. “Manus’ early momentum suggests a strong product market fit for SMBs, arguing for a potential substantial distribution lift from leveraging Meta’s 50M+ active businesses on WhatsApp for sales & support agents for booking appointments, processing orders and servicing customers,” the analyst said. META Price Action: Shares were up 1.17%, trading at $666.38 at the time of publication, according to Benzinga Pro. Read More: Mark Zuckerberg Threw $77 Billion ‘Into The Toilet’ On Metaverse, Says Economist Dean Baker: Asks If He Is Set To Waste Billions More On AI Image: Shutterstock.com