
Meta's new AI model Muse overtook ChatGPT as the top iOS free app with over 730,000 downloads in five days, boosting Meta shares over 20% and driving the Nasdaq and Magnificent Seven ETF to record highs, while global leaders including Trump, Xi, and Zelenskyy prepare for meetings in New York and Washington D.C. amid AI and geopolitical tensions.
AI-generated summary
Meta has launched a new AI model called Muse that quickly gained popularity, overtaking ChatGPT on iOS, while global leaders gather for UN General Assembly meetings in New York and bilateral talks in Washington D.C.
Samuel Boivin | Nurphoto | Getty Images
Hello, this is Leonie Kidd coming to you from London. Welcome to another edition of CNBC's Daily Open.
A new AI darling has emerged in the form of Meta's Muse.
Mark Zuckerberg's group has surged ahead in the AI race with a new model that has overtaken its peers in download popularity and helped drive the Mag Seven and Nasdaq back to record highs.
But with AI still a flashpoint for global leaders meeting stateside this week, will the gains be short-lived?
Read on for more.
What you need to know today
The Nasdaq hit a fresh record high on Monday, driven by a rally in Meta shares, which logged their best day in more than a year.
Mark Zuckerberg's group is catching a bid after the successful launch of its new AI model. Meta's Muse agent overtook ChatGPT as the leading iOS free app on Friday, with over 730,000 downloads in the last five days.
Trading volumes in the stock surged, with shares up over 20% since the details of the AI assistant were released.
The moves led the broader Magnificent Seven group of stocks higher, with the Roundhill Magnificent Seven ETF hitting a record level for the second straight session.
Brent is back
Oil prices are rising in early trade on Tuesday, bouncing back after futures for international benchmark Brent crude briefly dipped below the $100 a barrel mark.
It comes with the UN General Assembly set to get underway in New York on Tuesday. President Donald Trump will hold meetings on the sidelines with Gulf leaders, while Iran's President Masoud Pezeshkian is expected to address the event.
President Trump is also due to hold bilateral meetings with U.K. Prime Minister Andy Burnham and Ukrainian President Volodymyr Zelenskyy.
Dinner date
Preparations are also underway for the much-anticipated state dinner between President Trump and Chinese President Xi Jinping. The U.S. has announced that several American tech and banking CEOs will join the event, but Beijing is yet to share the names of any Chinese companies joining the state visit.
While a trade truce between the two nations seems to be holding, AI and Iran could present flashpoints for the two leaders as they meet in Washington D.C.
Weighing up the competition
In corporate news, shares in Novo are set to open after a volatile session on Monday. The stock sank at the start of the week as investors were skeptical about the Danish drug-maker's growth strategy and competition in the weight-loss market.
Squawk Box Europe will speak with the CEO following the capital markets day, catch that interview here.
— Leonie Kidd
And Finally...
Soccer superstar Kylian Mbappé on ending 20-year journey with Nike: ‘It was time to change’
French soccer champion Kylian Mbappé has told CNBC he was ready for "change" after ending an almost 20-year association with Nike and entering a deal with Swiss sportswear brand On.
On, a new entrant in the soccer market, announced Friday that it will be working with Mbappé to design high-performance footwear and apparel. The French player, who has been associated with Nike since childhood, chose not to renew his deal with the sportswear giant.
"Of course, I had 20 amazing years with Nike, I can only say thanks to them," Mbappé said in a joint interview alongside On's co-CEO David Alleman, with CNBC's Carolin Roth on Monday.
— Sawdah Bhaimiya
AI outlook — possibilities, not facts
Meta's Muse AI will maintain strong user growth and continue to influence tech sector performance over the next few weeks
Likely · Within weeks
The U.S.-China state dinner will include discussions on AI governance and competition, though no immediate breakthroughs are expected
Possible · Within days

As Donald Trump and Xi Jinping meet, the U.S. and China are discussing AI safety frameworks and crisis communication channels, while tensions persist over advanced chip restrictions and distillation allegations.

Qualcomm unveiled its Snapdragon 8 Elite Gen 6 chipsets built on TSMC's 2-nanometer process, designed for on-device AI to compete with Apple's A20 Pro. The chips will power premium smartphones from Motorola, Xiaomi, and ZTE amid a contracting global smartphone market expected to shrink 14% in 2026.

As Trump prepares to meet Xi at the White House on Sept 24, AI safety concerns grow following warnings about rogue agent swarms and calls for global coordination. Trump delayed Taiwan arms sales and dismissed AI risks as a hoax, while China enforces strict AI regulations but resists constraints on technological rise. Experts see potential for narrow cooperation on AI incident notification despite deep distrust and competing narratives.

Apple has unveiled the iPhone Duo, its first foldable smartphone, marking a major design shift for the flagship series. The device is scheduled for an October release with a starting price of $1,999, announced alongside new iPhone 18 Pro models and Siri AI updates.

GoPro has launched the Mission 1 Pro ILS, a cinema-focused camera featuring a Micro Four Thirds lens mount and a 1-inch sensor. While it offers superior image quality for professionals, it lacks waterproofing and electronic lens controls, requiring manual operation.

The Austrian Academy of Science, Mistral, and Sail Reply are launching Apollo, an advanced large language model trained on 600 million Ancient Greek words to help scholars restore damaged papyrus fragments.