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AI & Enterprise

Manus in talks to raise $500 million after Meta merger deal falls through

Chinese AI startup Manus is seeking to raise $500 million at a valuation of $4 billion after a deal to be sold to Meta fell through. TechCrunch reported potential participants include IDG Capital, Bowy Capital, battery maker CATL and existing investors Tencent, HSG and ZhenFund. The company is also considering restructuring to prepare for a Hong Kong initial public offering. Meta had announced a $2 billion acquisition last December.

AI & Enterprise

Personal AI agent Instinct seeks $1 billion funding at $10 billion valuation

Sphere Street Technology, developer of the personal AI assistant service Instinct, is seeking to raise $1 billion at an expected valuation of $10 billion. The Information reported the company is discussing funding led by Sequoia Capital and Benchmark, citing sources familiar with the matter. The report said the fundraising is not final and terms and lead investors could change. Instinct remains invite-only but has topped 100,000 users.

AI & Enterprise

China AI firms\' open-weights strategy questioned as revenue trails OpenAI, Anthropic by 90 percent

Seven major Chinese AI developers’ annual recurring revenue is about one-tenth that of OpenAI and Anthropic, the South China Morning Post reported, citing Rhodium Group estimates. OpenAI and Anthropic together exceed $100 billion. ByteDance and Alibaba lead among the Chinese firms, while some, including Moonshot AI and DeepSeek, pursue fundraising at high valuations. Analysts also warn heavy computing investment could prolong losses, and open-weights strategies may hinder monetisation.