Beijing’s decision to block Meta Platforms’ proposed acquisition of artificial intelligence firm Manus should not be seen as a restriction on foreign investment, Chinese state media said, urging companies in the sector to “go global when ready” and “pursue partnerships where appropriate”. “What stands out from Meta’s Manus deal is that the AI industry is transcending simple commercial logic,” Yuyuan Tantian, the influential social media account run by state broadcaster CCTV, said on Wednesday in...
It could be “time-consuming”, “complex” and “difficult” for Meta Platforms to unwind its acquisition of Manus, an artificial intelligence start-up that originated in China, given how far the deal has gone, according to analysts. Beijing’s order on Monday blocking the US$2 billion deal came roughly four months after the acquisition was announced. During that time, Manus – developer of what it described as the world’s first general AI agent – provided Meta employees with unlimited-usage accounts,...
Beijing has blocked the proposed purchase by Meta Platforms of artificial intelligence firm Manus, a start-up that is officially registered in Singapore but developed its products in mainland China. The National Development and Reform Commission, the country’s top economic planner, announced the ruling in a statement on Monday, and asked the parties involved in the deal to cancel the transaction. Neither Meta nor Manus immediately responded to a request for comment on Monday. The decision...