Meta Loses $2 Billion Acquisition of Manus AI After Chinese Regulatory Block
Meta Platforms Inc has lost its $2 billion acquisition of Manus, a Singaporean AI startup with Chinese roots, after Chinese regulators blocked the deal over concerns about technology leakage to the US. The decision comes as Meta seeks to strengthen its position in the AI race, and the loss of Manus represents a significant setback in its efforts to compete with rivals.
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Topics: AI competition China regulatory action foreign investment restrictions Manus AI Meta