Meta Launches AI Coding Agent To Challenge OpenAI And Anthropic

by News Editor

August 6, 2026

Meta has introduced its first AI coding agent, Muse Code, as the company expands its push into developer tools and intensifies competition with OpenAI and Anthropic.

The preview release marks the latest product from Meta Superintelligence Labs, led by Alexandr Wang, who joined the company to accelerate its AI strategy. Muse Code is designed to automate software engineering tasks, from planning and writing code to testing and validating results.

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“You can install it with one command and then use it to take on complete software engineering tasks across a wide variety of use cases,” Wang said.

A New Revenue Opportunity

The launch comes as Meta looks to generate new revenue from AI while continuing to invest heavily in data centres and computing infrastructure. The company recently increased spending on AI, even as weaker guidance and lower free cash flow weighed on investor sentiment.

Muse Code joins a growing market for AI programming assistants that includes Anthropic’s Claude and OpenAI’s Codex. Like its rivals, the tool allows developers to build applications within a single interface while using AI agents to support different stages of software development.

The coding assistant runs on Meta’s latest Muse Spark 1.2 model, which was developed alongside Muse Code to improve programming performance. Although Wang did not disclose adoption figures, he said demand for the Muse Spark family has been “strong.”

Competing On Price

Rather than focusing solely on performance, Meta is positioning Muse Code as a lower-cost alternative to competing AI coding tools.

Developers can access the service through a pay-as-you-go model, alongside a lower-priced contributor tier for users who agree to share data that helps improve the underlying models. Meta is also introducing a zero-data-retention option for enterprise customers, allowing developers to use the platform without their data being stored for model training.

Muse Code will be available through Meta’s developer platform and via OpenRouter, which hosts AI models from multiple providers.

The launch highlights Meta’s broader strategy of expanding beyond consumer AI products into enterprise software, where demand for coding assistants is growing rapidly and competition among major AI companies continues to intensify.

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Shein Targets $25 Billion Valuation In Hong Kong IPO As Growth Slows

by News Editor

August 17, 2026

Shein is reportedly targeting a valuation of around $25 billion in its planned Hong Kong IPO, a sharp decline from the nearly $100 billion valuation the online fashion retailer achieved in a 2022 fundraising round.

Two people familiar with the plans said the company was likely to target about $25 billion, while another source put the expected range at $25 billion to $28 billion based on the proposed price band.

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IPO Valuation Falls Sharply

Shein plans to sell up to 8% of its shares in the offering, according to a person familiar with the plans. At a $25 billion valuation, that would translate into an IPO of as much as $2 billion.

The latest target is also below the $30 billion to $40 billion valuation the company was seeking earlier this month as it began meeting with potential investors.

Founded in China in 2012 and now headquartered in Singapore, Shein sells low-cost clothing to consumers in about 160 countries. The company is expected to launch its long-awaited Hong Kong IPO later this week.

Trade Restrictions Weigh On Growth

Shein’s valuation has come under pressure as major markets tighten rules affecting low-cost e-commerce shipments. The European Union, for example, has moved to impose additional fees on cheap parcels from platforms such as Shein and Temu. EU Tightens Rules On Low-Cost E-Commerce Parcels

In the U.S., the removal of an import duty exemption for small packages has also affected the company. Shein reported a $99 million quarterly loss in the first quarter of 2026 as sales growth slowed, while a one-time accounting charge further weighed on its results. Shein Reports First-Quarter Loss Ahead Of IPO

Investors Question Shein’s Growth Prospects

The steep reduction in valuation reflects growing concerns over slower growth, higher trade costs, regulatory pressure and stronger competition across global e-commerce.

Some investors who reviewed Shein’s recent financial statements or attended IPO presentations told Reuters they were skeptical that the company could return to the growth rates that supported its $98.2 billion valuation in 2022. Shein’s Slowing Growth Tests Investor Appetite

A lower IPO valuation could also affect Shein’s existing investors. Under the terms of its IPO filing, the company may have to issue additional shares to certain pre-IPO investors if its valuation falls below agreed thresholds.

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