Meta's Acquisition of Chinese AI Startup Scrapped Due to Beijing Regulations

U.S. tech giant Meta has ultimately withdrawn its bid to acquire Chinese artificial intelligence (AI) startup 'Manus' due to regulatory hurdles from Beijing. Meta had sought to acquire Manus for $2 billion (approximately 2.8 trillion won).

The Chinese government, after reviewing whether the deal fell under technology export controls, formally ordered the withdrawal of the transaction back in April.

It was reported that Manus completed its operational separation from Meta and ceased data sharing in May.