Meta's planned $2bn purchase of Manus, a developer of autonomous artificial intelligence agents, has been halted after China's National Development and Reform Commission ordered the transaction withdrawn.
The move comes amid a wider clampdown on US investment into Chinese technology companies, with Bloomberg reported regulators plan to block tech firms, including leading AI startups, from accepting US investment without government approval.
China's top economic planning body said in an announcement it will "prohibit the foreign investment in the acquisition of the Manus project" and "requires the parties involved to withdraw the acquisition transaction". Manus, which launched in Beijing and is now based in Singapore, described the deal as "validation of our pioneering work with general AI agents".
Meta, which is investing billions in artificial intelligence, said the acquisition would bring a "leading agent to billions of people and unlock opportunities for businesses across our products". Artificial intelligence agents are designed to carry out multiple tasks, for example planning travel, handling customer queries or drafting research presentations, without human intervention.
The NDRC's directive requires the parties to withdraw the deal, effectively cancelling the takeover; Bloomberg reported several private firms have been warned to reject US funding unless they receive explicit approval from Beijing.
The recap
- Meta's $2bn acquisition of Manus blocked by Chinese regulator
- Manus launched in Beijing and is now based in Singapore
- NDRC requires the parties to withdraw the acquisition transaction
