Meta’s $2 billion acquisition gets blocked by China. What the deal was all about in the first place.

China’s National Development and Reform Commission on April 27, 2026 prohibited foreign investment in Manus and ordered Meta to withdraw its planned acquisition of the Singapore-headquartered AI startup, effectively blocking a deal reportedly worth more than $2 billion. The move follows reports that Manus co-founders were barred from leaving China. The regulatory intervention is a near-term setback for Meta’s AI expansion and highlights geopolitical and regulatory risks for cross-border tech deals, particularly involving Chinese-linked AI assets. Market reaction was muted: Meta shares drifted lower in premarket trading, though the stock is up about 2% year-to-date.