Tencent Holdings leads a consortium to buy back AI startup Manus from Meta Platforms for $2 billion. Chinese regulators ordered Meta to unwind its 2025 acquisition of the company citing investment concerns.
The deal establishes Tencent as the largest shareholder in the AI agent developer. This strategic move aims to bolster Tencent's competitive standing in China’s artificial intelligence market.
Tencent’s stock price in Hong Kong declined by 2.21% following the announcement. Original investors ZhenFund and Sequoia China joined the buyback at the $2 billion valuation.