Meta Launches Muse Wonder: Stock Up 3.38%, Q2 Free Cash Flow Plunges 91%
Meta released its new flagship model Muse Wonder, boosting stock prices despite a 91% drop in Q2 free cash flow due to massive capex.
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Meta officially launched its flagship model Muse Wonder on October 12, with its stock closing up 3.38% at $742.96. This marks Meta's first self-proclaimed 'frontier-level' closed-source model since the Llama 4 setback, aiming to address the capability ceiling of its personal AI assistant, Muse.
In Artificial Analysis's comprehensive intelligence index, Muse Wonder Full scored 56 points, tying with Anthropic's Claude Sonnet 5.5 and trailing only Claude Opus 5.5. The model supports a context window of approximately 1 million tokens and features two core Agent capabilities: Active Memory and Active Focus.
Despite technical leaps, Meta's financials reveal significant pressure. In Q2 2026, operating cash flow was $31.862 billion, while capital expenditure reached $31.08 billion, leaving free cash flow at just $784 million—a 91% year-over-year plunge and a four-year low. Annual capex limits have been raised to $145 billion.
On the commercial front, the standard Wonder API is priced at $4 per million input tokens and $20 for output, matching Claude Opus 5.5; the more powerful Full version is exclusive to Muse Code subscribers paying $50 to $200 monthly. Sensor Tower data shows Muse's 14-day retention rate is 22%, slightly below ChatGPT, leaving it uncertain whether the new model can improve sustained usage and monetization.