Meta Platforms (META) released Muse Wonder and Muse Wonder Full on Monday, October 12, calling them its “most capable models to date.” They’re the first frontier models from Meta Superintelligence Labs, and the stock rose about 3.4% on the day to close at $742.96.
What Meta Launched
- Muse Wonder: available now to developers through Meta’s API and Muse Code, at $4 per million input tokens and $20 per million output. That’s roughly in line with the top models from OpenAI and Anthropic.
- Muse Wonder Full: a bigger version reserved for Muse Code subscribers, with no API access.
- Focus: agent tasks, coding, and “active memory,” which tracks what matters to a user over time.
- Performance: Meta says Wonder competes with leading OpenAI and Anthropic models and outperforms them on its memory tests. Independent evaluator Artificial Analysis scored Wonder Full at 56 on its Intelligence Index, up from 48 for Meta’s earlier Muse Spark, and put it level with Claude Sonnet 5.5 and ahead of Opus 5.5 on coding agents.
The Bill Behind Muse Wonder
Meta trained the models at its Prometheus data center in Ohio. TIKR’s data shows the scale of Meta’s company-wide capital spending. Capital expenditure hit $30.12 billion in the second quarter of 2026, up 82% from a year earlier and more than 3.6 times the $8.26 billion Meta spent two years before. The last four quarters add up to about $89 billion.
Muse Wonder is the first frontier product Meta can point to from all that spending.
What Wall Street Expects From META Stock
Analysts see limited upside from here. The mean price target is $799, about 8% above Monday’s close and down from $867 a year ago. The stock has rallied 32% since the end of June while targets kept slipping, so most of the upside the Street saw is already used up.
Sentiment hasn’t turned, though. Meta carries 47 Buy ratings, 8 Outperforms, 7 Holds and 1 Sell.
The Question Meta Hasn’t Answered
Can Wonder make money on its own, or will it stay a cost the ad business has to carry? Wonder will roll out to Muse subscribers on its $20 and $100 monthly plans. The question is how much incremental revenue subscriptions and API usage can generate against Meta’s broader investment in AI.
The first real test is whether Meta gives usage or subscription numbers for Wonder with its next quarterly results. Without them, this is a strong launch on a stock already priced for most of the good news. Alphabet (GOOGL), whose Gemini competes for the same developers, faces the same test.
Want to see how Meta’s capex and price targets have shifted over the past two years? Pull up the same data on TIKR for free. Learn more here.
So what is Meta stock actually worth?
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any of the stocks mentioned. Thank you for reading, and happy investing!
