One signal

TD Cowen says Meta’s Muse could grow from an estimated $55m in worldwide revenue this year to $1.8bn in 2027 and $27bn by 2031. The forecast follows Meta’s push to put Muse across AI glasses, the pocket-sized Muse Charm and other wearable devices.

Why it matters

The analyst called Muse the clearest sign yet that Meta’s AI spending could produce returns beyond its existing businesses. That is an investment view, not a company forecast or proof that users will adopt the agent at anything like the projected scale. The practical signal is that Meta’s AI strategy is starting to look less like a costly research bet and more like a hardware-and-services ecosystem, at least through TD Cowen’s spreadsheet. The spreadsheet, naturally, remains the least glamorous product in the room. Do projected AI revenues help justify Meta’s spending, or are analysts mistaking a promising product push for a durable business?

Discuss: Do projected AI revenues help justify Meta’s spending, or are analysts mistaking a promising product push for a durable business?

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