Meta hires MongoDB CEO CJ Desai, sending shares of data service company down

Shares of both MongoDB and Meta falling today on news of Meta hiring the CEO of MongoDB to run its new enterprise platform, which they announced this morning. MongoDB shares down about 20% while Meta shares are down about 4% today. Some profit-taking. Meta shares though still are up dramatically over the past month. Um up about 25% in the past month on the rollout of its Muse AI agent, which last week topped ChatGPT in the App Store. Meta's hiring MongoDB CEO solidifies Meta's commitment to the enterprise software space, where it hopes to capitalize on the millions of businesses that use its platforms and to justify its up to $145 billion in AI-focused capital expenditures this year.