China has blocked Meta’s $2bn (£1.5bn) acquisition of an AI startup as it cracks down on US investments in domestic tech companies. Mark Zuckerberg’s Meta, the owner of Facebook, Instagram and WhatsApp, announced the acquisition of Manus, a developer of autonomous AI agents, in December. However, the Chinese National Development and Reform Commission (NDRC) said on Monday it had cancelled the takeover. In a statement, China’s top economic planning body said that it will “prohibit the foreign investment in the acquisition of the Manus project” and “requires the parties involved…
Tag: Mergers, acquisitions and funding
Newport semiconductor factory: ‘Losing these jobs would be devastating’
The clean room in Newport, south Wales, is the size of a football field, but in the industry they call it a ballroom. Workers in full bodysuits move silicon wafers from one end to another in a series of careful steps. The 20cm slices of silicon are rigorously cleaned in chemical baths before light is used to draw precise patterns that are then etched out. It all takes place in an orange gloom to prevent light-sensitive chemicals from reacting. After robots and people test for defects, the owner Nexperia ships…