Meta said the acquisition was aimed at boosting automation across consumer and business products. Manus will continue operating its subscription service after the acquisition, with no deal terms disclosed.
The deal is one of the first in which a major U.S. tech company has bought a startup with Chinese roots.
Meta said on Monday it would acquire Chinese artificial intelligence startup Manus, as the technology giant accelerates efforts to integrate advanced AI across its platforms.
Meta Platforms has demonstrated a tendency for swift rallies. The stock has experienced increases of over 50% within a span of two months on six separate occasions, particularly in 2012 and 2023.
Meta Platforms (NASDAQ:META) certainly stands out as one of the bigger “deals” to be had in big tech for those looking to play the value side of the AI trade.
META's AI-driven content and ad upgrades are fueling engagement, pushing ad tools past a $60B annual run rate.
Meta is now a Strong Buy, with the recent stock decline offering an attractive entry point. META's pivot to Generative AI and wearable AR, away from the Metaverse, is driving superior ad monetization and engagement. Despite heavy CapEx, META's AI investments are directly boosting ad revenue, margins, and capital efficiency, with robust growth and profitability metrics.
Head of marketing for Meta wearables Raashi Rosenberger joins 'Mornings with Maria' to showcase the tech giant's new AI-powered Ray-Ban and Oakley smart glasses and explain how hands-free features are reshaping everyday life.
Italy has ordered Meta to suspend its policy that bans companies from using WhatsApp's business tools to offer their own AI chatbots on the popular chat app.
Italian regulators ordered Meta on Wednesday to open its WhatsApp chat platform to rival AI chatbots as it and EU authorities pursue a probe that the US tech giant is abusing its dominant market position.
Shares of Meta Platforms Inc. (NASDAQ: META) gained 1.44% over the past five trading sessions after gaining 1.14% the five prior.
The authority said the order seeks to preserve access to WhatsApp for Meta's AI competitors while an investigation continues.