Manus said on Tuesday that it will soon resume operations as an independent company after Chinese regulators in April required Meta Platforms, Inc. (META.US) to withdraw its USD2 billion acquisition of the company.

Meta announced the acquisition of Manus in December last year. Manus, a general AI agent developer, was founded in China in 2022 and later relocated to Singapore.

The deal quickly drew attention from both Beijing and Washington, with Chinese officials investigating whether the transaction violated China's foreign investment regulations.

China's National Development and Reform Commission made a decision in April instructing both parties to withdraw the deal, triggering a complicated unwinding process.

As the US and China compete for talent, hardware and data in the AI race, Beijing subsequently tightened technology export controls on cross-border transactions.
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AASTOCKS Financial News
Website: www.aastocks.com

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