China to probe Meta’s USD2b purchase of AI startup Manus
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The news: China has said that it will investigate Meta’s acquisition of AI startup Manus to assess whether the deal violates the country’s technology export controls.
The context: China’s Ministry of Commerce said on Thursday that it will conduct an assessment and investigation into how the acquisition complies with laws and regulations tied to export controls, technology import and export, and overseas investment.
“The Chinese government has always supported enterprises in conducting mutually beneficial and win-win transnational operations and international technological cooperation in accordance with laws and regulations,” Ministry of Commerce spokesperson He Yadong said at a press briefing.
The ministry will work with relevant departments to conduct an assessment and investigation into the consistency of this acquisition with laws and regulations, He said.
While terms of the deal were not disclosed, the Wall Street Journal in December reported that the transaction will see Meta acquire the startup which has been touted as the next DeepSeek for over USD2 billion ($2.99 billion).
