Tencent is negotiating to reacquire a majority stake in AI startup Manus following Chinese government intervention that forced Meta to abandon its $2 billion purchase. The Chinese authorities cited national security concerns over foreign control of AI firms with Chinese origins, despite Manus being incorporated in Singapore. Tencent, along with original investors ZhenFund and HSG, plans to buy Manus back at the original $2 billion valuation. This move allows Tencent to regain control of a key AI asset without paying a premium, while Meta recovers its investment but loses access to the technology and talent. The case highlights regulatory challenges for foreign acquisitions of Chinese-founded AI companies, even with offshore structures.
Backpack has introduced the first-ever 24/7 trading platform for real U.S. equities, allowing international investors to buy and sell stocks like SpaceX, Micron, and SanDisk around the clock. Unlike synthetic derivatives, these are actual equities wi...
BingX, a major crypto exchange, introduced the BingX Visa Debit Card in partnership with Wirex, allowing users to spend digital assets globally through Visa's payment network. The card supports purchases, ATM withdrawals, and automatic currency conve...
Independent proxy advisory firms, including ISS, recommend Equinox Gold shareholders vote in favor of the proposed merger with Orla Mining, which aims to create a leading North American gold producer. The combined company is expected to produce 1.1 m...
The generative AI market in the oil and gas sector is projected to grow from $0.53 billion in 2025 to $1.15 billion by 2030, at a CAGR of 16.9%. Growth is driven by adoption of cloud-based AI for real-time monitoring, predictive maintenance, and dril...
Sigenergy, Australia's leading home battery brand, has introduced a $1,000 discount on its new 9kWh SigenStor battery modules. This discount can be stacked with the Federal Government’s Cheaper Home Batteries Program rebate, potentially allowing hous...
