China blocks Meta's $2 billion takeover of AI startup Manus
Summary
China's NDRC blocked Meta's $2B Manus deal, ordering withdrawal and launching a regulatory review. The move highlights heightened cross-border scrutiny of AI ventures and regulatory risk for overseas AI deals, especially around the so-called Singapore-washing model. Manus, a Singapore-based AI startup with Chinese roots, had touted rapid ARR growth and was backed by Benchmark, while Meta framed the deal as compliant with the law.