Meta Platforms’ shares surged more than 11% on Monday, closing at $741.25, marking the company’s highest closing price since late October of the previous year. The rise follows the September 8 launch of Muse, Meta’s new personal artificial intelligence (AI) assistant, which has sparked renewed investor confidence in the company’s AI strategy.

Muse represents Meta’s latest effort to establish a foothold in the competitive AI landscape, with the company committing between $130 billion and $145 billion this year alone to AI research and development. Market optimism around Muse reflects expectations that the product could begin to justify those substantial investments.

The company is set to highlight its AI ambitions at its annual Meta Connect conference starting Wednesday. CEO Mark Zuckerberg is scheduled to deliver the keynote address, where he is expected to emphasize increasing AI accessibility by providing users with personal agents like Muse. Such technology aims to offer more personalized experiences by drawing on user data and integrating across various applications and websites.

Despite investor enthusiasm, challenges remain for Meta as it seeks to gain acceptance from users and competitors alike. Successful adoption of Muse depends on balancing user privacy concerns with the need to access data and services from across the internet, a factor that will be under close scrutiny as the product rolls out more broadly.

As AI continues to reshape technology platforms, Meta’s introduction of Muse and its upcoming presentations at Meta Connect will be critical indicators of whether the company can maintain its momentum and deliver on its expansive AI vision.