Meta to acquire Singapore-based startup Manus to boost advanced AI features
The artificial intelligence startup is among a flurry of Chinese firms that have set up base in Singapore in recent years.
People walk behind a logo of Meta Platforms company, during a conference in Mumbai, India, on Sep 20, 2023. (File photo: Reuters/Francis Mascarenhas)
Meta said on Monday (Dec 29) it would acquire Chinese-founded artificial intelligence startup Manus, as the technology giant accelerates efforts to integrate advanced AI across its platforms.
Financial terms of its transaction with Manus were not released, but a source with direct knowledge of the matter said the deal values the Singapore-based firm at between US$2 billion and US$3 billion.
Manus did not immediately reply to a request for comment.
Once hailed as China's next DeepSeek, Manus went viral earlier this year on X by releasing what it claimed to be the world's first general AI agent, capable of making decisions and executing tasks autonomously, with much less prompting required than AI chatbots.
Beijing has since shown interest in supporting Manus, which claims that the performance of its AI agent surpasses that of OpenAI's DeepResearch. The company also has a strategic partnership with Alibaba to collaborate on their AI models.
Meta will operate and sell the Manus service, as well as integrate it into its consumer and business products, including in Meta AI, the company said.
Manus added it will continue to operate from Singapore.
Tech giants such as Meta have been ramping up AI investments through strategic acquisitions and talent hires as they navigate fierce industry competition.
Earlier this year, the Facebook owner invested in Scale AI in a deal that valued the data-labeling startup at US$29 billion and brought in its 28-year-old CEO, Alexandr Wang.
Manus, backed by its parent Beijing Butterfly Effect Technology, raised US$75 million this year at a valuation of around US$500 million, according to media reports. US venture firm Benchmark led the funding round.
It is among a flurry of Chinese firms that have set up base in Singapore in recent years, betting that a move to the trade-focused city-state would reduce risks their operations get disrupted by Sino-US geopolitical tensions.
