Tencent to Become Manus’ Largest Shareholder Amid Deal Discussions
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4 Articles
Over the past 16 months, Chinese AI startup Manus has been embroiled in a power struggle between Meta, Tencent, and Chinese Communist Party (CCP) regulators. During this period, founder Xiao Hong and chief technology officer Ji Yichao were recalled by the CCP and subsequently barred from leaving the country. Now, the Tencent-led buyback agreement has temporarily brought an end to the commercial competition in the US-China AI field.
Tencent and original Manus investors plan to buy back Singapore-headquartered startup from Meta, sources say
Chinese gaming and internet company Tencent, together with artificial intelligence (AI) firm Manus’ original investors, including ZhenFund and HSG, are planning to buy back the Singapore-headquartered startup from Meta for no less than US$2 billion (S$2.59 billion), sources familiar with the matter told Reuters on Friday. Tencent is said to become Manus’ largest shareholder in the deal, a development first reported by The Financial Times. Tencen…
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