"The Chinese National Development and Reform Commission (NDRC) announced the cancellation of Meta's acquisition of Manus, emphasizing a prohibition on foreign investment in this project."
"Chinese regulators are planning to block tech firms from accepting US investment without government approval, a move triggered by the Manus deal."
"Manus, which launched in Beijing but is now based in Singapore, described the deal as validation of our pioneering work with general AI agents."
"AI agents are designed to carry out multiple tasks such as planning holidays, handling customer queries, or drafting research presentations without human intervention."
China has canceled Meta's $2bn acquisition of Manus, an AI startup, as part of a broader effort to restrict US investments in its tech sector. The National Development and Reform Commission stated that foreign investment in the Manus project is prohibited and requires withdrawal of the acquisition. Chinese regulators are reportedly planning to block tech firms from accepting US funding without government approval. Manus, now based in Singapore, focuses on autonomous AI agents that perform various tasks, which are seen as valuable in the tech industry.
Read at www.theguardian.com
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