What happened
China blocked Meta's planned $2 billion acquisition of the AI company Manus. Chinese authorities subsequently instructed domestic startups on cross-border transactions. The decision prevents Meta from absorbing Manus's AI technology and workforce.
The context
Global tech competition between the US and China is raising barriers for cross-border investments. Chinese regulators are acting to keep domestic artificial intelligence assets and talent within national borders.
Sources
- The Times of India ↗ via Google News Reported