Chinese regulators have ordered Meta Platforms to unwind its $2bn purchase of Manus, an AI software company that relocated from China to Singapore before the acquisition. Beijing views the deal as a 'conspiratorial' attempt to export technology, despite Manus not being Chinese.
Weibo's annual report, like many US tech firms, reveals its corporate structure is a workaround for China's foreign investment curbs. Over a hundred companies use such convoluted arrangements to access Chinese markets, a practice that has waned as regulators demand clarity.
The move reflects broader tensions in US-China AI competition. China's top AI models trail US ones by just a few months, but the US already restricts high-end chip sales to China. Meta's forced withdrawal of Manus—despite its teams being merged—may pressure other companies to argue the AI arms race should stay unregulated.
Source: Financial Times Companies · Summarized by HeadlinesBriefing