Meta's internal codename "Watermelon" refers to the frontier large language model in training as the successor to Muse Spark, with trader sentiment shaped by August 2026 reporting from The Information citing internal documents that targeted an October public release. Alexandr Wang, Meta's chief AI officer, told employees in a July town hall that the model had reached parity with OpenAI's GPT-5.5 on unnamed internal benchmarks while using roughly 10x the compute of its predecessor, though independent verification remains absent and pre-training pauses reportedly delayed timelines. No launch occurred at Meta Connect in late September, and as of early October the model has not shipped publicly. Key near-term catalysts include resolution of Polymarket deadlines around mid-to-late October alongside any official Meta announcement on model capabilities or availability.