China said on Monday that it has decided to block metaAcquisition of Chinese-origin Singaporean AI startup Manus for $2 billion.
China’s state planner, the National Development and Reform Commission, said it had decided to impose a moratorium on foreign investment in Manus in accordance with laws and regulations, and asked the parties involved to withdraw the acquisition transaction.
The deal had attracted scrutiny from both China and Washington, as lawmakers in the US bar American investors from directly supporting Chinese AI companies. Meanwhile, Beijing has stepped up efforts to discourage Chinese AI founders from doing business abroad.
— CNBC’s Annick Bao contributed to this story.
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