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China blocks Meta's $2B acquisition of AI startup Manus
Key takeaways
- Now Chinese authorities are forcing Meta to unwind its purchase of the company in what analysts believe could set a new precedent.
- https://p.dw.com/p/5Cu9g Meta is a key player in the AI race Image: Sebastien Bozon/AFPAdvertisement China blocked US tech giant Meta from acquiring the AI firm Manus on Monday.
- The announcement will force Meta to unwind its purchase of Manus, which was believed to cost upwards of $2 billion (€1.7 billion).
Why this matters: an international story with cross-border implications worth tracking.
Manus claimed to revolutionize agentic AI. Now Chinese authorities are forcing Meta to unwind its purchase of the company in what analysts believe could set a new precedent.
https://p.dw.com/p/5Cu9g Meta is a key player in the AI race Image: Sebastien Bozon/AFPAdvertisement China blocked US tech giant Meta from acquiring the AI firm Manus on Monday.
China's National Development and Reform Commission (NDRC) said in a one-line statement that it would "prohibit foreign investment in Manus in accordance with laws and regulations, and requires the parties involved to withdraw the acquisition transaction."
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