Meta’s Latest AI Agent… And An AI-Powered Hedge Fund 9/8/26

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Melissa Lee (1:02)

Live in the NASDAQ Market Site in the heart of New York City, Times Square, this is Fast Money. Here's what's on tap tonight. Meta's moment shares with the social media giant, Seesawing, after the company unveiled its much anticipated personal AI agent. Could news be a game changer for both individuals and businesses, and what could it mean for the hyperscaler space? Plus, copper prices hit new records. One-time retail darling TJX gets put on the discount rack. Everything we expect from Apple's big iPhone event tomorrow and AI at work. Fast Money friend Brian Kelly has reinvented the way he does business with the technology. He gives us a sneak peek at his new work life and how it's changing his trading landscape. I'm Melissa Lee, coming to you live from Studio B at the NASDAQ. On the desk tonight, Tim Seymour, Karen Feinerman, Dan Nathan and Guy Adami.

We are going to get to all of today's market action in a minute, but we start off with Meta giving up early gains after the company unveiled its AI agent, Muse, would be its first personal AI bot, not just answering questions, but actually performing transactions on users' behalf. For the latest on this, let's bring in Julia Borson in LA. Julia.

Julia Borsten (2:05)

Well, Melissa, Meta is unveiling this personal AI agent that goes head-to-head with OpenAI, Google and Anthropic's agentic tools. It's a new app called Muse and also a tool you can use within WhatsApp. It gives users a personalized agent which acts like an assistant. It can monitor your security cameras, fill in paperwork, find items to buy or book tea times. Users can also create a feed to keep tabs on news, social updates and the like. Now, this new Muse agentic tool is rolling out today with a free tier, as well as more advanced tiers for power users for $20 and $100 a month for those two tiers. Now, I spoke to Meta AI chief Alex Wang who said they see a huge opportunity in giving Meta's massive user base access to personal AI agents with future opportunity to monetize shopping via its agents. Wang telling me, quote, We think the commerce business model is potentially really interesting for this product because of how much it enables people to actually find the things that they're excited about and ultimately fulfill a lot of those purchases. Now, amid growing concerns about AI cybersecurity risks, Meta says its agent is built to be private, safe, and secure. It will ask for your permission to use your credit card and will draft emails, but won't send them without explicit permission. Melissa?

Melissa Lee (3:22)

It will also hide your credit card number, correct, Julie? I mean, it's going to set up sort of like a fake card, not a fake, but I mean, a proxy for your credit card so that actual number is not exposed.

Julia Borsten (3:31)

Exactly. They're doing the actual purchases in partnership with Stripe. Patrick Collison from Stripe weighing in on this today on X. So they are finding ways to enable you to make purchases. They obviously don't want your agent going rogue and buying a lot of things that maybe you were just thinking about, but forging those partnerships with the likes of Stripe to help with that security there.

Melissa Lee (3:55)

And then does Meta only profit on the subscription for this agent, or does it also get a cut of the transactions?

Julia Borsten (4:01)

Well, so right now, they are going to be profiting from the subscription. I asked Alex Wang if this is an incredibly expensive thing to operate, if this is going to be a real money-losing endeavor for them. He said that because their AI models are so focused on efficiency, they can offer a lot for that free model without it being hugely expensive for them. But they do see the opportunity to get those power users to pay for that $20 a month tier or the $100 a month tier. As for the monetizing the shopping, it seems very obvious that they could take a cut. He said that's something they're thinking about down the line. So it does feel like that will evolve.