Tencent in Talks to Become Top Shareholder in AI Firm Manus After Beijing Reverses Meta Deal

Tencent Holdings is in negotiations to become the largest shareholder in Chinese artificial intelligence startup Manus, a move that follows Beijing's order for Meta Platforms to reverse its acquisition of the company, the Financial Times reported Friday.

The discussions aim to unwind Meta's previous purchase and establish a new ownership structure for the promising AI firm.

Details of the Proposed Deal

According to the report, which cited two people familiar with the talks, the new deal is being negotiated at the same $2 billion valuation as Meta's original acquisition. The parties involved in the discussions reportedly include Tencent, venture capital firm ZHenFund, investment firm HSG, and Manus's own management.

If the deal proceeds, Tencent is expected to acquire the largest stake but will remain a minority shareholder. The report noted that discussions are ongoing and could bring in new investors, while previous U.S.-based backers like venture capital firm Benchmark are not expected to participate.

Regulatory Context and Market Impact

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The negotiations follow an order from the Chinese government in April for Meta to divest its stake in Manus. This action is part of a broader push by Beijing to maintain domestic control over its leading technology companies, particularly in the strategically critical field of artificial intelligence.

For investors, this development underscores the significant regulatory and geopolitical risks associated with cross-border tech acquisitions involving China. The move to unwind a completed deal highlights Beijing's increasing assertiveness in shaping the future of its domestic AI industry and potentially restricting foreign access to advanced Chinese models.

Background on Manus

Manus gained prominence in early 2025 after launching its AI agent of the same name, which is capable of independently executing complex digital tasks. Meta acquired the startup in December and had begun integrating it into its operations.

Following Beijing's directive, Meta has since separated Manus's operations, paving the way for the current talks on a new ownership structure led by domestic investors.