Meta's latest model advances Zuckerberg's vision for personal AI assistants

Here is a story making headlines in the economy: Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Markets are off to a mixed start to the week. The S & P 500 traded higher for most of the early afternoon, but the bulls struggled to keep the ball in the air.

What held back the broader market's attempted rally was oil. WTI crude climbed 4% as markets awaited more clarity on a potential deal with Iran to open the Strait of Hormuz. Also not helping the bull's cause was data from the Department of Energy that showed the U.

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Strategic Petroleum Reserve has fallen below 300 million barrels for the first time since the 1980s. The rise in energy prices pressured bonds, pushing interest rates higher and sending the 10-year Treasury yield back to 4. 70% ahead of two key inflation reports later this week.

The odds of a September rate hike fell last Friday after the weak jobs report, and the market now thinks it's a coin flip between the Fed hiking rates or leaving them unchanged at its next meeting, according to the CME FedWatch tool. Meta unveiled the Muse Glimmer AI model on Monday, giving investors a glimpse into CEO Mark Zuckerberg's plans to bring artificial intelligence directly to consumers. It's also the latest release from its Meta Superintelligence Labs, the social media giant's high-dollar AI division led by Alexandr Wang.

Unlike many AI systems that rely on cloud computing, Muse Glimmer is designed to run locally on personal devices including Macs and personal computers. Meta said the open-weight model is capable of agentic tasks, meaning it can perform actions and complete requests on behalf of users. An open-weight model is one whose code is publicly available for anyone to copy or modify.

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Meta made the model's weights publicly available through Hugging Face. "Running models locally enables you to use AI anywhere, anytime, with or without an internet connection," Meta said in a blog post. The company said it's working with partners like fellow Club names Nvidia and Intel , as well as Arm Holdings , Advanced Micro Devices , and Dell , to optimize the model's performance across a range of devices.

It's worth remembering that Nvidia in June announced new PC chips for a lineup of Windows PCs set to debut later this year — precisely the kind of devices that might run an AI model like Muse Glimmer locally. Intel is a longtime juggernaut in the PC market. The launch of Muse Glimmer coincided with the release of a lengthy letter from Zuckerberg , with the CEO outlining his vision for what he called a "positive AI future" that creates a "balance of power that favors individuals.

" Zuckerberg argued that AI should become deeply personal, helping people accomplish daily tasks and learn news skills to navigate everyday life.

Economists are analysing what the news means for the markets.