China’s state planner on Monday urged Meta to reverse its $2 billion acquisition of Manus, a Singapore-based AI firm with origins in China.

The rationale for blocking foreign investment in Manus was presented in accordance with relevant laws and regulations, as stated by the National Development and Reform Commission in a concise announcement. It also mentioned that involved parties were instructed to retract the acquisition deal.

CNBC has reached out to Meta for a response. Shares dipped 0.2% in premarket trading.

The arrangement had drawn attention from both Beijing and Washington, with U.S. lawmakers having restricted American investors from directly supporting Chinese AI enterprises. Concurrently, China has intensified efforts to dissuade local AI entrepreneurs from taking their businesses abroad.

The intervention by the Chinese government regarding the deal raised concern among tech founders and venture capitalists in the nation who were eager to benefit from the so-called “Singapore-washing” strategy, which involves companies migrating from China to the city-state to evade scrutiny from both Beijing and Washington.

Originating in China, Manus relocated to Singapore. The firm specializes in developing versatile AI agents and introduced its initial general AI agent in March of the previous year, capable of performing complex tasks including market research, coding, and data analysis. This launch positioned the startup as a contender to be the next DeepSeek.

Manus reported surpassing $100 million in annual recurring revenue (ARR) in December, merely eight months post-launch of its product, claiming it was the fastest startup globally to achieve this milestone from zero.

The company secured $75 million in a funding round led by U.S. VC Benchmark in April of last year.

When Meta disclosed the deal late last year, the tech powerhouse indicated it aimed to expedite AI advancements for businesses and integrate sophisticated automation into its consumer and enterprise offerings, including its Meta AI assistant.

However, in January, China’s Ministry of Commerce announced it would conduct a review and investigation into the acquisition’s adherence to laws and regulations related to export controls, technology import and export, and overseas investment.

A spokesperson for Meta informed CNBC in March that its acquisition “was in full compliance with the applicable law,” and that the team expected “an appropriate conclusion to the inquiry.”

In response to inquiries regarding China’s decision to block Meta’s Manus acquisition, APEC Senior Officials Meeting Chairman Chen Xu remarked that it is “crucial for all parties to operate with a mindset of mutual benefit.”

While Chen stated he was not familiar with the details of the situation, he commented that “if such a matter can be resolved effectively, it can foster more meaningful discussions within APEC.” This insight is based on an official English translation from the Chinese.

— CNBC’s Anniek Bao and Dylan Butts contributed to this story.

A recent artificial intelligence legislation, initially reported by CNBC, aims to tackle deepfake and non-consensual imagery while simplifying the process for whistleblowers to voice AI-related issues.

The bill is backed by Rep. Ted Lieu, D-Calif., who co-chairs a bipartisan House Task Force on AI alongside Rep. Jay Obernolte, R-Calif. It draws upon suggestions from the task force’s findings.

Lieu described the bill as “a move in the right direction” during a conversation with CNBC.

“It is not intended to be contentious,” he remarked. “It is rooted in bipartisan legislation that colleagues have proposed, as well as the recommendations from the bipartisan House AI Task Force. We are aiming to achieve something this term with this bill.”

Lieu’s proposal sidesteps several contentious topics related to AI, such as whether a federal guideline should override state AI regulations and the necessity of testing protocols for AI applications in sectors like critical infrastructure and education.

The comprehensive bill contains measures to safeguard whistleblowers who disclose AI safety threats or breaches, mandates U.S. involvement in global organizations that create technical standards for AI, and establishes a competitive prize for innovative AI research and development.

Although Lieu’s bill enjoys Obernolte’s support, the Republican is preparing his own AI initiative, which he plans to unveil later this year. Similar to Lieu’s bill, Obernolte’s will be based on the efforts of the bipartisan task force.

A man with several weapons rushed a security checkpoint at the White House Correspondents’ Dinner on Saturday evening before being “subdued” by agents from the U.S. Secret Service, President Donald Trump stated hours after he was evacuated from the gathering.

One officer sustained a gunshot wound, but he was “saved by the fact that he was wearing a noticeably effective bulletproof vest,” Trump informed reporters during a press conference in the White House briefing room.

“I just talked to the officer, and he’s doing wonderfully,” Trump said.

The alleged assailant was later identified as Cole Allen from Torrance, California, as a former senior law enforcement official briefed on the situation shared with MS NOW. The suspect is reported to be 31 years old, according to the Associated Press, citing two law enforcement sources.

Trump was hurried off the stage of the Washington Hilton hotel ballroom just seconds after the sound of gunfire caused attendees to dive under their tables.

He expressed that he “struggled fiercely” to remain at the dinner, where he was scheduled to speak for the first time since taking office, but that law enforcement requested him and other administration officials to exit the venue.

Prior to the press briefing, Trump shared images via his Truth Social account that appeared to depict the alleged shooter once subdued, as well as security footage from the incident.

First lady Melania Trump and all the Cabinet members attending “are in excellent condition,” the president mentioned in a separate post after departing the event.

He added, “I have spoken with all the representatives in charge of the event, and we will be rescheduling within 30 days.”

At the White House, Trump commended the Secret Service and law enforcement for their swift response.

“This was an event focused on freedom of speech that aimed to unite individuals from both parties alongside members of the press,” Trump stated. “And in a way, it accomplished that, because the unity I observed in the room was truly remarkable. It was, in one aspect, very beautiful.”

A source present at the event, who was briefed by the Secret Service post-shooting, informed CNBC’s Eamon Javers that a man with a shotgun had approached the metal detectors and was shot by Secret Service agents.

He was subsequently taken away in handcuffs, the source reported.

Key facts about the incident remain uncertain. U.S. Attorney for Washington Jeanine Pirro stated at a separate press conference later on Saturday night that the suspect will face arraignment on Monday.

During the same conference, Washington D.C. Metropolitan Police Interim Chief Jeffery Carroll mentioned that authorities believe, based on initial information, that the suspect was a guest at the hotel.

“We have secured a room here at the hotel,” Carroll noted.

He also indicated that the suspect was armed with a shotgun, a handgun, and multiple knives.

At least five gunshots were heard around 8:35 p.m. The shots originated from the back of the ballroom while guests were consuming their first course, several minutes after White House Correspondents’ Association President Weija Jiang delivered her remarks.

Trump, positioned on a stage at the front of the ballroom next to the first lady, was swiftly surrounded by U.S. Secret Service members, while many attendees ducked under their tables.

Video footage from the event captures the moment the president was escorted off the stage shortly after, as armed guards clad in tactical gear and wielding large rifles appeared on the dais.

Several other senior officials from the Trump administration were present at the gathering, including Vice President JD Vance, FBI Director Kash Patel, and Health and Human Services Secretary Robert F. Kennedy, Jr.

When asked at the White House if he believed he was the shooter’s target, Trump replied, “I suppose.” He stated that details regarding the alleged shooter’s motives will emerge in the coming days.

“You know he’s in custody, and they’re asking him numerous questions,” Trump mentioned.

Trump survived an attempted assassination during a campaign rally in Pennsylvania in July 2024. A few months later, an individual attempted to assassinate Trump while he was enjoying a round of golf at his course in West Palm Beach, Florida.

— CNBC’s Eamon Javers and Megan Cassella contributed to this report.