Closing Bell: Meta Gains on Muse Wonder Release, IonQ Declines, Chiptole Falls

Today's biggest winners and losers in the stock market.
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- Meta Platforms (META) released a new artificial intelligence model called Muse Wonder, which the company claims is a big leap over its predecessors with "frontier capabilities". The model is said to be competitive with OpenAI's ChatGPT and Anthropic PBC's Claude, particularly in coding, financial, or legal questions, and will soon power the subscription version of Meta's personal AI agent Muse. Meta AI Chief Alexandr Wang says the company has tried to differentiate itself from competitors by focusing on big models for broad, consumer uses, and is already working on larger and more scaled models, as well as specialized versions that are efficient enough to deploy at massive scale. Meta’s shares rose as high as 4.7% on the announcement.

- IonQ (IONQ) declined 9.2% after the company said it would acquire enterprise security start-up Elisity for as much as $1.3 billion in an all-stock transaction. The stock dropped Monday on potential investor concerns that the company has scaled too quickly.

- Chipotle (CMG) shares are trading lower after Starbucks denied that it is considering acquiring the fast-casual chain. The deal rumors had sent Chipotle shares higher and Starbucks shares lower, with Chipotle investors looking forward to a potential reunion with Brian Niccol, who previously led Chipotle and is now CEO of Starbucks.

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