Business · NPR Technology
China blocks Meta from acquiring AI outfit Manus
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FILE - A Meta logo is shown on a video screen at LlamaCon 2025, an AI developer conference, in Menlo Park, Calif., April 29, 2025.
Key facts
- FILE
- A Meta logo is shown on a video screen at LlamaCon 2025, an AI developer conference, in Menlo Park, Calif., April 29, 2025
- The decision was made by the commission's Office of the Working Mechanism for Security Review of Foreign Investment in accordance with Chinese laws and regulations, the statement said
- In a one-line statement, China's National Development and Reform Commission, the country's top planning agency, said it was prohibiting a foreign acquisition of Manus and had required all the parties
- Singapore-based Butterfly Effect Pte was the firm behind Manus ahead of the acquisition
Summary
HONG KONG — China on Monday blocked U.S. tech giant Meta's acquisition of the artificial intelligence startup Manus, in an unexpected move to reverse a deal that apparently aroused Beijing's concerns about the transfer of advanced technology. In a one-line statement, China's National Development and Reform Commission, the country's top planning agency, said it was prohibiting a foreign acquisition of Manus and had required all the parties to withdraw from the deal. The decision was made by the commission's Office of the Working Mechanism for Security Review of Foreign Investment in accordance with Chinese laws and regulations, the statement said.