A China-founded start-up that specialises in artificial intelligence agents was acquired by US tech giant Meta Platforms for billions of dollars, marking a landmark deal amid US-China competition in AI technology.
The acquisition of Singapore-based Manus just nine months after its public launch in March underlines China’s AI competitiveness despite Washington’s efforts to deprive its rival of access to advanced US chips and funding.
According to announcements from both sides, Manus would integrate its technology into Meta’s platforms and continue operating from Singapore, where it relocated to in July in an apparent move to manage geopolitical risks arising from US-China competition. It had been based in central China’s Wuhan and in Beijing.
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The two companies did not disclose the deal value, but Chinese technology news outlet LatePost reported that Manus was sold to Meta for “billions of US dollars”. The acquisition follows Meta’s purchase of 49 per cent of Scale AI for US$14.3 billion in June.
Meta said in a statement that it was taking in Manus “to bring a leading agent to billions of people and unlock opportunities for businesses across our products”. It said Manus was serving the daily needs of “millions of users and businesses worldwide”.
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Meta is adjusting its AI strategy as it struggles to keep up with other US tech giants. The company is reportedly using Qwen, an open-source model developed by Alibaba Group Holding, to train a new model code-named Avocado.
Manus founders and investors, meanwhile, find themselves hitting a jackpot. In comparison, Chinese AI start-up Zhipu is raising US$560 million from an initial public offering in Hong Kong, while another Chinese AI little dragon, MiniMax, targets US$700 million.