Meta's multibillion Manus buyout draws plaudits,but raises spectre of a China AI exodus

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playbook.Industry observers said the acquisition was made possible by two key developments: Manus' progress in building a globally competitive general AI agent and the founders' decision to relocate the business abroad.Launched in Wuhan, the capital of central Hubei province, the start-up led by Xiao Hong severed its China links and moved its headquarters to Singapore in July, a step that helped it tap overseas capital and markets.Do you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge, our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team.The multibillion-dollar price tag paid by Meta has instantly elevated the start-up into the top tier of China-linked AI successes by exit value.By comparison, Zhipu AI - one of China's best-known AI start-ups - was expected to raise about US$560 million in a Hong Kong listing, while MiniMax is likely to seek roughly US$538 million, according to market expectations.Zhou Hongyi, chairman and chief executive of Chinese internet security firm Qihoo 360, called the acquisition a "victory for China's AI road map".In a video posted across social media on Wednesday, Zhou said the deal marked the first time Chinese-developed AI had earned a seat at the "top table" of global tech giants at the application and agent levels.The news has also fuelled optimism among founders and investors."The overall sentiment has been positive and optimistic," said Niu Zhangming, chief executive of AI-driven biotech firm MindRank, adding that the deal could be a "significant boon for the ecosystem" by lifting confidence among entrepreneurs, investors and scientists.Meta Platforms' multibillion-dollar acquisition of Manus, a Chinese-founded artificial intelligence agent start-up, has set off a mix of excitement and unease in China's tech circles. Photo: Reuters alt=Meta Platforms' multibillion-dollar acquisition of Manus, a Chinese-founded artificial intelligence agent start-up, has set off a mix of excitement and unease in China's tech circles. Photo: Reuters>Despite the accolades, the transaction has landed against a backdrop of intensifying US-China competition over AI and tighter US curbs on funding and investment in China's advanced AI, semiconductors and quantum technology.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,845.50 -50.74 (-0.74%)Dow 3048,063.29 -303.77 (-0.63%)Nasdaq23,241.99 -177.09 (-0.76%)Russell 20002,481.91 -18.68 (-0.75%)VIX14.95 0.00 (0.00%)Gold4,332.10 -9.00 (-0.21%)Trending tickersBTC-USD Bitcoin USD 88,105.18 +394.70 (+0.45%)ETH-USD Ethereum USD 2,983.41 +5.03 (+0.17%)XRP-USD XRP USD 1.87 +0.03 (+1.78%)IEP Icahn Enterprises L.P. 7.55 +0.25 (+3.42%)DOGE-USD Dogecoin USD 0.12 +0.01 (+5.95%)PortfolioSign in to access your portfolioSign inTop gainersAXSM Axsome Therapeutics, Inc. 182.64 +33.85 (+22.75%)PSNY Polestar Automotive Holding UK PLC 21.37 +1.88 (+9.65%)ONDS Ondas Holdings Inc. 9.76 +0.77 (+8.57%)DJT Trump Media & Technology Group Corp. 13.24 +0.67 (+5.33%)PBF PBF Energy Inc. 27.12 +1.08 (+4.15%)Top losersCORT Corcept Therapeutics Incorporated 34.80 -35.40 (-50.42%)QXO QXO, Inc. 19.29 -1.75 (-8.32%)RGC Regencell Bioscience Holdings Limited 21.00 -1.90 (-8.30%)NIO NIO Inc. 5.10 -0.40 (-7.27%)PSLV Sprott Physical Silver Trust 23.65 -1.57 (-6.23%)Most activeONDS Ondas Holdings Inc. 9.76 +0.77 (+8.57%)NVDA NVIDIA Corporation 186.50 -1.04 (-0.55%)PLUG Plug Power Inc. 1.9700 +0.0350 (+1.81%)NIO NIO Inc. 5.10 -0.40 (-7.27%)TSLA Tesla, Inc. 449.72 -4.52 (-1.00%)Top economic eventsEarnings eventsMy earnings eventsEarnings events