Meta hires MongoDB executive, sending data company's shares lower

Meta has hired a senior MongoDB executive, according to reports, prompting a drop in MongoDB's stock price. The hire adds to a wave of high-profile talent moves as major tech companies compete to build out AI infrastructure and products.

MongoDB, known for its database software used by many companies building AI applications, saw investor concern over the departure of a key leader. Meta has been aggressively recruiting technical executives and researchers as it expands its AI and infrastructure efforts.