Chinese gaming and internet giant Tencent is reportedly in discussions to take the top ownership stake in artificial intelligence startup Manus, according to two sources familiar with the situation who spoke on Friday.
The negotiations come after Chinese authorities ordered Meta to reverse its $2 billion purchase of the AI startup, prompting investors to search for other options.
The Financial Times was first to report on the Tencent discussions earlier that day.
According to one of the sources and a third individual who was briefed on the situation, Tencent — along with Manus’ original backers, including ZhenFund and HSG — are working on a plan to repurchase the company from Meta for a price of no less than $2 billion.
Tencent, Manus, Meta, and the two investment firms had not responded to requests for comment at the time of reporting.
