"China's National Development and Reform Commission announced it would prohibit foreign investment in Manus, requiring the involved parties to withdraw the acquisition transaction. This decision forces Meta to unwind its purchase, which was believed to cost upwards of $2 billion."
"Manus made headlines last year after announcing the world's first general AI agent capable of various tasks like coding and conducting market research. The company relocated its operations to Singapore to circumvent US restrictions on investing in Chinese AI firms."
"Meta stated that its purchase of Manus had complied fully with applicable law and expressed anticipation for an appropriate resolution to the inquiry. The decision reflects the growing AI rivalry between China and the US."
China's National Development and Reform Commission prohibited Meta from acquiring the AI firm Manus, requiring the company to withdraw its $2 billion purchase. Manus, known for its AI agent capable of tasks like coding and market research, had previously relocated to Singapore to avoid US restrictions. Meta stated it complied with applicable laws and anticipates a resolution. The move reflects the intensifying AI rivalry between China and the US, with China aiming to surpass American innovation for economic and national security reasons.
Read at www.dw.com
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