Meta Acquires AI Startup Manus in $2B Deal
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Meta Platforms Inc. will acquire AI startup Manus for approximately $2 billion, aiming to enhance its AI monetization efforts. This acquisition comes as Meta faces pressure from its $121 billion AI investment program, which has yet to yield profits like competitors Microsoft and Google. Manus, which has quickly generated $100 million in annual recurring income, is expected to integrate well with Meta's AI infrastructure. Following the announcement, BMO maintained its "Market Perform" rating and $710 price target on Meta, as investors await details on Manus's role in Meta's commercial AI strategy.
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