00:00Welcome back. China has ordered the cancellation of Meta's $2 billion acquisition of domestic AI startup Manus
00:08in a move seen as Beijing's attempt to prevent the leakage of homegrown technology to the US.
00:14The Chinese regulatory body issued the directive on Monday, effectively scrapping the deal.
00:20No further details were given on the decision.
00:25The Meta buyout triggered an investigation into what Beijing described as possible illegal foreign investment and technology export soon after
00:34the deal was announced in December.
00:36Initially seen as a model for startups with global ambitions, the Manus deal has since drawn scrutiny over possible loss
00:44of sensitive AI technology to a geopolitical rival.
00:47According to the Financial Times, China has also barred two co-founders of Manus from leaving the country as regulators
00:54investigated whether the deal violated Beijing's investment rules.
00:58Based in Singapore, after relocating from China, Manus develops AI agents capable of performing tasks such as research and automation
01:07with minimal prompting.
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