Meta has acquired artificial intelligence startup Manus in a deal reportedly worth over $2 billion. Manus, known for its general-purpose AI agent, has seen rapid growth, crossing $100 million in annual revenue. The acquisition will allow Meta to expand AI offerings across its platforms and compete with Google and OpenAI.

Manus, a Singapore-based platform with Chinese roots, offers paid subscriptions for research and coding tasks. Meta plans to scale Manus’ services across consumer and business products. Manus CEO Xiao Hong stated that the acquisition will provide a stronger foundation without changing operations. The platform will continue to operate in Singapore.

Initial financial backers of Manus included Tencent Holdings and ZhenFund. Meta confirmed that there will be no Chinese ownership interests in Manus following the acquisition. Manus will discontinue services in China but continue operations in Singapore, where most employees are based. CEO Mark Zuckerberg aims to boost Meta’s AI efforts amid tough competition.

Meta’s push to enhance AI offerings includes a $14.3 billion investment in AI data company Scale and recruiting its CEO to develop “superintelligence.” This move comes as Meta faces competition from companies like Google and OpenAI. The acquisition of Manus is part of Meta’s strategy to stay competitive and expand its AI capabilities.

Read more at Yahoo Finance: Meta buys startup Manus in latest move to advance its artificial intelligence efforts