China blocks Meta's $2 billion purchase of Manus AI startup
Business
Meta's plan to buy Manus, a Singapore-based AI startup with Chinese roots, was shut down by the Chinese government.
The $2 billion deal, announced last December, was supposed to give Meta a tech boost, but China's regulators stepped in, saying they were reviewing whether the sale complied with local laws and regulations.
Manus founders reportedly barred leaving China
Earlier this year, Manus's founders were reportedly stopped from leaving China. This is all part of China's push to keep its top tech from going overseas as competition with the US heats up.
Now, China is making it tougher for US companies to invest in sensitive tech areas, affecting not just Meta but other big names like ByteDance and Moonshot AI.