US-China competition in AI intensifies as China blocks Meta’s Manus purchase
China has stepped in to block Meta Platforms, the parent company of Facebook and Instagram, from acquiring Manas, a Singapore-based AI startup. The deal, which was valued at around $2 billion, was already in progress. The National Development and Reform Commission of China announced its prohibition of any foreign takeover of Manas, urging all parties […]
China Stops Meta’s $2 Billion Purchase of AI Company Manus
The Chinese government has officially blocked Meta’s attempt to acquire the Chinese-founded AI startup Manas for $2 billion. This move underscores the intensifying tech competition between the United States and China. According to a report, the Foreign Investment Review Department of China’s National Development and Reform Commission (NDRC) announced on Monday its decision to block […]
Meta acquires AI startup Manus for $2 billion, facing scrutiny over its Chinese origins
Meta’s Bold Move in the AI Landscape Meta is making headlines again, this time with a significant acquisition in the AI sector. The company has bought Manus, a rising startup, for over $2 billion. This unexpected deal not only establishes a new AI agent business for Meta but also raises questions about the startup’s Chinese […]