Meta Shares Jump 15% in Best Week Since 2024 as AI Push Gains Traction
Updated
Updated · CNBC · Jul 10
Meta Shares Jump 15% in Best Week Since 2024 as AI Push Gains Traction
3 articles · Updated · CNBC · Jul 10
Summary
Meta stock rose 15% for the week on Friday, its strongest weekly performance since early 2024, erasing its 2026 losses and leaving the shares up more than 2% year to date.
Two model launches fueled the rally: Muse Image debuted Tuesday to target creators and advertisers, and Muse Spark 1.1 followed Thursday for agentic and coding workloads.
Those releases, coming three months after Meta introduced its first in-house model Muse Spark, signal a faster bid to challenge OpenAI, Anthropic and Google while building revenue beyond advertising.
Reuters also reported progress on Meta's custom AI chips, with the first Iris chip expected to enter manufacturing in September as the company targets 14 gigawatts of computing power next year.
Even after the rebound, Meta still trails the Nasdaq's 13% gain this year, underscoring how much investors are betting that its AI buildout can close the gap.