Tencent is in talks to acquire a majority stake in AI agent startup Manus at a $2 billion valuation, after Beijing blocked Meta from acquiring the company. Tencent plans to integrate Manus with its own agent initiatives, including for WeChat.
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After Meta abandoned its acquisition due to Chinese regulatory hurdles, Tencent is in talks to buy a majority stake in AI agent startup Manus at the same valuation as Meta's previous offer.
According to the Financial Times, Chinese tech giant Tencent is in talks to acquire a majority stake in AI agent startup Manus, after Beijing forced Meta to abandon its $2 billion acquisition plan.
The valuation under discussion is the same as Meta's previous offer of $2 billion. Most early investors—including Tencent itself, ZhenFund, and Sequoia China—along with the management team are involved in the discussions. US venture capital firm Benchmark is not expected to participate.
Upon completion, Manus will continue to operate independently, with its headquarters in Singapore. The company recently reported annual revenue of nearly $500 million.
In April this year, China blocked Meta's acquisition of Manus for violating investment rules and imposed an exit ban on founder Xiao Hong. Officials described the deal as a 'conspiratorial' attempt to 'sabotage' China's technology foundation and prohibited foreign investment in Manus.
This decision reflects the broader tech race between China and the US in AI. AI technology has been likened to a 'cyber nuclear weapon of the AI era,' especially after recent advances in AI-driven cybersecurity attacks.
Tencent's acquisition overlaps with its own AI agent strategy, including plans to embed agents into WeChat. By acquiring Manus, Tencent may accelerate its deployment in the AI agent domain and strengthen its standing in consumer-grade AI applications.
Manus's independent operating model will preserve its international DNA, while Tencent's capital and ecosystem resources may provide growth impetus. This move could also intensify the competition between Chinese and US tech giants in the AI arena.
This report is based on exclusive information from the Financial Times, republished by The Decoder. Since the deal has not been officially announced and involves multiple regulatory factors, some details may be subject to change. The source credibility is relatively high, but single-source reports should be treated with caution.
Tencent's potential acquisition of Manus highlights the strategic layout of Chinese tech giants in the AI agent field and is a key move in the US-China tech competition landscape. If successful, the deal will reshape the AI agent market landscape.
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