Tencent eyes $2B Manus takeover after Beijing reversed Meta deal
Meta's $2 billion buyout of AI startup Manus was shut down by Chinese regulators over investment rule violations.
Now, Tencent is stepping in and looking to take control of Manus for at least the same price, teaming up with early backers ZhenFund and HSG.
The shakeup comes just months after Meta's original deal was reversed by Beijing.
Manus $100 million revenue, Singapore move scrutinized
Manus, often called "China's DeepSeek," builds smart agent frameworks on top of Western language models and reached an annualized revenue of over $100 million in just eight months.
The company moved its headquarters to Singapore last year, a move that raised eyebrows among regulators worried about "Singapore-washing."
This whole saga highlights how global AI competition is heating up, especially between China and the US.