Key points
- Innodata shares jumped 14.6% on Tuesday
- Hunterbrook linked an unnamed customer's AI program to Muse
- Neither Meta nor Innodata confirmed the connection
- Hunterbrook Capital disclosed a long position in Innodata
Innodata (INOD) shares jumped 14.6% to close at $69.97 on Tuesday after Hunterbrook Media reported evidence linking the AI data company to Meta's (META) Muse assistant.
The report identified Meta as Innodata's largest customer, citing former employees and job postings. It then pointed to a program Innodata disclosed in August with that unnamed customer: personalizing AI agents that carry out long, complicated tasks. Hunterbrook argued that the work could be tied to Muse.
Neither company confirmed the Muse connection. Hunterbrook Capital, the publication's investment affiliate, disclosed that it owns Innodata shares and stands to benefit if they rise.
What Innodata does
Innodata supplies data-labeling and model-training services, helping AI developers prepare the datasets used to train and improve their models. Its shares are up about 37% this year.
The Muse connection
Meta launched Muse on September 8 as a consumer AI agent that can browse the web and handle email and calendars. Hunterbrook drew a connection between those capabilities and Innodata's description of its new assignment.
The report also addressed a concern hanging over Innodata: whether Meta's investment in rival Scale AI would pull business away. A former employee interviewed by Hunterbrook challenged that view, saying Meta's use of outside help had increased.
That makes the August program worth watching. It suggests more work from Innodata's largest customer, but its value remains undisclosed, and whether that work is for Muse remains unconfirmed.
