Meta Stock Drops 4.7% Amid Reports of OpenAI Competition in AI Space

Key Facts

1Meta Platforms stock fell 4.7% to $715.62 on Monday as investors assessed competitive risks.

2The decline followed reports that OpenAI is developing a new artificial intelligence assistant.

Meta Platforms stock fell 4.7% to $715.62 during trading on Monday, September 28, 2026. Invezz reported that the decline occurred as investors assessed competitive risks within the technology sector.

The drop followed reports that OpenAI is developing a new artificial intelligence assistant that could compete with Meta's existing products. META was trading at $721.70 on September 28, 2026, while other mega-cap peers saw mixed action, with MSFT trading at $512.04 and GOOGL trading at $341.06 on the same date.