Technology and Science · updated 1h ago · 2 min read
Meta Launches Enterprise AI Platform, Hires MongoDB CEO CJ Desai as Shares Drop
Meta launches Meta Enterprise Platform to sell AI tools to businesses and developers. CJ Desai, MongoDB CEO, named head of enterprise platform, reporting to Mark Zuckerberg.
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Meta launches enterprise platform
Meta launched the Meta Enterprise Platform to sell its artificial intelligence tools to businesses and developers, and the initiative initially focuses on the Muse agent, Meta Business Agent, Muse API, and Muse Code. Meta CEO Mark Zuckerberg said, "Today we begin the next major pillar of our business, Meta Enterprise Platform, to also help companies use AI to grow and transform in new ways." Meta hired Chirantan "CJ" Desai, the former president and CEO of MongoDB, to serve as Chief Enterprise Platform Officer and report directly to Zuckerberg.
“The company has not announced pricing or a launch schedule for the business offerings.”
MongoDB said Desai stepped down effective Monday, and MongoDB named Dev Ittycheria as interim president and chief executive while it reorganizes its leadership. Meta’s launch came as MongoDB shares fell about 24% in premarket trading, according to TIKR, and Meta’s stock fell 3.9% on the Wall Street exchange.
Market reaction and leadership shift
Meta’s newsroom post about the enterprise platform sent MongoDB shares tumbling, with 24/7 Wall St. saying MongoDB (NASDAQ:MDB) fell 19% to $333.80 after losing its chief executive to the Meta Platforms project. Meta’s stock also dropped, and 24/7 Wall St. put Meta Platforms stock at $721.31, down 4% in morning trading, while ServiceNow (NYSE:NOW) slid to $130.36, down 4%. Business Insider España said MongoDB’s shares plunged more than 25% following the announcement, while it said Meta investors also punished the decision with a 4% drop.
Quartz said MongoDB stock fell 25% on the news, and it said Meta stock declined about 4%. Quartz added that MongoDB’s board named Dev Ittycheria as interim president and CEO, also effective immediately, and it said the company was hosting an Investor Day at Nasdaq $NDAQ MarketSite on Tuesday, September 29.
What Meta says it will do
Meta framed the enterprise effort as turning its AI stack into products and services that companies can deploy, and Proactive financial news said the platform will initially bring businesses and developers tools including the Muse agent, Meta Business Agent, Muse API and Muse Code. Chirantan Desai said, "As with Muse, security and privacy are built into Meta’s enterprise products from the outset," and Proactive financial news added that Desai also said, "Our goal is to make Meta the place enterprises come to scale their businesses,". Diya TV said Meta has not announced pricing or a launch schedule for the business offerings, and it said the company had not explained how businesses will use the agent or the other products.
“The company has not announced pricing or a launch schedule for the business offerings.”
The announcement also left open questions about contracting and availability, and DiarioBitcoin said Meta has not yet detailed pricing or a launch schedule for the business offerings. Quartz said Meta’s enterprise platform will initially prioritize a suite of tools including its Muse agent, a business agent, and a coding tool, while it said MongoDB reaffirmed its guidance for the fiscal third quarter and full year 2027 and scheduled its Investor Day for Tuesday, September 29.