Tencent is exploring a majority stake in Manus, an AI agent startup, following Beijing's rejection of Meta's $2 billion acquisition. The move comes after Chinese authorities blocked Meta's attempt to acquire Manus, citing violations of investment rules. According to the Financial Times, Tencent sees strategic alignment with its own AI agent initiatives, including plans to integrate agents into WeChat. The valuation for the potential deal remains at $2 billion, with most earlier investors, including Tencent, ZhenFund, and HSG, as well as the management team, engaged in discussions. U.S. firm Benchmark is not expected to participate in the talks. Manus will continue to operate independently from Singapore, with recent annual revenue close to $500 million.
The decision to block Meta's acquisition of Manus was made in April, with officials labeling the deal a 'conspiratorial' effort to undermine China's tech sector. The move aligns with the broader AI competition between China and the U.S., where AI is increasingly viewed as a critical technology comparable to 'cyber-nuclear weapons of the AI era' due to its potential in cybersecurity threats. This context highlights the strategic importance of AI capabilities in shaping the global technology landscape.
Source: thedecoder
