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Meta to buy Chinese-founded startup Manus to boost advanced AI

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Meta said on Monday it will acquire Chinese-founded artificial intelligence startup Manus, stepping up efforts to integrate more advanced AI capabilities across its platforms. Financial terms were not disclosed, but a source with direct knowledge of the matter said the deal values the Singapore-based firm at between $2 billion and $3 billion.

Manus did not immediately respond to a request for comment. The startup drew widespread attention earlier this year after releasing what it described as the world’s first general AI agent—software designed to make decisions and execute tasks autonomously with far less prompting than conventional chatbots such as ChatGPT or DeepSeek. The launch sparked viral discussion on X and led some commentators to label Manus “China’s next DeepSeek,” with praise from Chinese state television.

Months later, Manus moved its headquarters from China to Singapore, joining a broader wave of Chinese-founded tech firms seeking to reduce exposure to rising U.S.-China tensions. The company’s products are not available in China. Manus has claimed its AI agent outperforms OpenAI’s DeepResearch and maintains a strategic partnership with Alibaba to collaborate on AI models.

Meta said it will operate and commercialize the Manus service and integrate it into both consumer and business offerings, including Meta AI. The acquisition reflects intensifying competition among large technology companies racing to secure differentiated AI capabilities through deals and talent hires.

Earlier this year, Meta invested in Scale AI in a transaction valuing the startup at $29 billion and bringing in its CEO, Alexandr Wang. Manus, backed by parent company Beijing Butterfly Effect Technology, raised $75 million this year at a valuation of about $500 million, according to the source, confirming prior media reports. The funding round was led by Benchmark, with investors including HSG, ZhenFund and Tencent Holdings, PitchBook data showed.

Chinese Robotics Startup Unitree Targets $7B IPO Valuation Amid Tech Push

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Chinese humanoid robotics firm Unitree Robotics is preparing for a landmark IPO on Shanghai’s STAR Market, seeking a valuation of up to 50 billion yuan ($7 billion), according to sources. The company, founded in 2016 by Wang Xingxing, has gained global attention with viral videos of robots walking, climbing, and carrying loads.

Unitree confirmed last week that IPO preparations are underway, with a formal application expected in Q4, though it disputed reports on the exact valuation. If successful, this would be one of China’s largest onshore tech listings in years, underscoring Beijing’s drive to fund domestic “unicorns” and bolster self-sufficiency in robotics and AI.

The potential listing comes after a funding round in June that included investments from Alibaba, Tencent, and Geely, boosting Unitree’s valuation to 12 billion yuan. Sources say the company is already profitable, with annual revenue above 1 billion yuan, and poised for rapid growth.

Unitree’s IPO plans coincide with China’s heavy investment in robotics and AI to counter U.S. tech rivalry and address an aging population. The humanoid robot industry enjoys strong government subsidies and policy support, making Unitree a likely beneficiary.

The company’s targeted valuation would mark a sharp jump from its last funding round, testing investor appetite for humanoid robotics — a field where China is positioning itself as a global leader.

Tencent Music Beats Q2 Estimates as Content Expansion Fuels Growth

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Tencent Music Entertainment (1698.HK) reported stronger-than-expected second-quarter results on Tuesday, with revenue rising nearly 18% year-on-year to 8.44 billion yuan ($1.17 billion), surpassing analysts’ forecasts of 7.96 billion yuan. Shares of the U.S.-listed company jumped 6.6% in pre-market trading.

The growth was driven by an expanded content portfolio, including podcasts, audiobooks, and new music tie-ups that boosted user engagement and subscriber numbers. Tencent Music’s Super VIP program — which offers bundled services like high-quality audio, online karaoke, and exclusive events — has grown to around 15 million subscribers.

The company also expanded partnerships with global and domestic labels, striking first-time agreements with The Black Label and H MUSIC to tap into rising K-pop demand, while continuing collaborations with Chinese artists such as Wang Feng.

Revenue from music subscriptions climbed 17.1% to 4.38 billion yuan, offsetting an 8.5% decline in social entertainment services, which fell to 1.59 billion yuan. Tencent Music’s adjusted earnings reached 1.66 yuan per American Depository Share, beating expectations of 1.46 yuan.

In June, Tencent Music announced a $2.4 billion cash-and-stock deal to acquire Chinese audio platform Ximalaya, further strengthening its catalog and targeting deeper market penetration. Analysts at CFRA Research noted that product innovation, content diversification, and AI-driven personalization would likely support Tencent Music’s sustained growth trajectory.