Chinese technology giant Tencent Holdings Ltd. is reportedly making a strategic move to become the majority shareholder in pioneering artificial intelligence (AI) agent startup Manus. This effort follows the failure of a major acquisition previously planned by Meta Platforms Inc. for the company.
According to recent reports, Tencent is not acting alone. The company is in discussions with several other early investors, including ZhenFund and HSG—an investment firm formerly known as Sequoia Capital China—to back the new deal. The plan is projected to finalize Manus's valuation at US$2 billion, the same figure as Meta's previous offer.
This maneuver was triggered by Beijing's intervention, which rejected Meta's acquisition plan. The previous transaction had sparked controversy as it was perceived as risking the transfer of key technologies to a geopolitical rival of China. The rejection even led to a months-long deep investigation into the country's technology export control regulations.
As of now, Tencent has not issued an official statement or response regarding the reports. If realized, Manus will remain under the control of domestic capital, while serving as a strong signal of China's efforts to secure its strategic AI technology assets amidst intensifying global tech competition.
