Manus AI評測：中國擋下Meta併購後，估值翻倍募5億美元 | Manus AI Review: Blocked From Meta, Valuation Doubles to $4B
By Kit 小克 | AI Tool Observer | 2026-10-09
🇹🇼 Manus AI評測：中國擋下Meta併購後，估值翻倍募5億美元
Manus AI（母公司 Butterfly Effect）最近成了中美AI角力的活教材：2025年12月 Meta 開價20億美元要收購它，2026年4月中國國家發展改革委下令撤銷這筆交易、禁止外資投資 Manus 相關專案，原始投資人買回 Meta 持股後，Manus 本週反而完成超過5億美元的新一輪募資，估值衝上約40億美元——是當初 Meta 出價的兩倍，由私募股權 Boyu Capital 與創投 IDG Capital 領投，騰訊、ZhenFund、HSG 等原股東跟投。
Manus 到底在做什麼
Manus 不是聊天機器人，是主打「自主執行」的 AI Agent：丟一個任務進去，它自己研究、寫報告、做網站、跑完整個多步驟流程，中間不太需要人介入。最新的 Manus 2.0 加上一套叫 Cascade 的執行系統，還推出獨立 app「Cue」——這個人用 AI 代理有自己的 email、電話號碼，甚至行動錢包，等於要把 AI 代理當成一個「數位分身」在跑。
為什麼這筆交易被擋下來
關鍵不是錢，是技術與人才的來源。Manus 團隊與核心技術源自中國，即使後來把公司註冊地搬到新加坡，北京的立場很清楚：只要底層技術跟人才是中國的，境外掛牌不代表能逃過審查。這等於給所有「出海型」中國AI公司一個警訊——換個國籍不等於換了監管身分。
營收數字比估值更值得看
比起估值翻倍，更實際的訊號是營收：2025年12月年化營收大約1億美元，到2026年6月已經衝到4-5億美元，等於半年成長4倍以上。這代表 Manus 不是靠故事撐估值，是真的有客戶在付費用它跑任務。公司目前也在評估未來可能到香港掛牌上市。
對一般使用者的啟示
- AI Agent市場的競爭不只在美國的 OpenAI、Anthropic、Google 之間，中國陣營的自主代理產品也在快速起量
- 地緣政治風險正式成為選擇 AI 工具供應商時要考慮的變數，不只是功能比較
- 「多步驟自主執行」這個方向，正在變成 AI Agent 產品的標準配置，不是加分題
好不好用，試了才知道。
🇺🇸 Manus AI Review: Blocked From Meta, Valuation Doubles to $4B
Manus AI just became the clearest case study yet of US-China AI friction: Meta offered $2 billion to acquire it in December 2025, China's National Development and Reform Commission ordered the deal unwound in April 2026 and banned foreign investment in the project, and after original investors bought back Meta's stake, Manus this week closed a funding round of over $500 million, pushing its valuation to roughly $4 billion, double what Meta had offered. Boyu Capital and IDG Capital led the round, with existing backers Tencent, ZhenFund, and HSG also participating.
What Manus Actually Does
Manus isn't a chatbot, it's an autonomous AI agent built to execute, not just converse. Give it a task and it researches, writes reports, builds websites, and runs multi-step workflows with minimal human input. Manus 2.0 added a proprietary execution system called Cascade, plus a standalone personal agent app called Cue, complete with its own email address, phone number, and mobile wallet, effectively treating the agent as a digital proxy for the user.
Why Beijing Blocked the Deal
The block wasn't about money, it was about where the technology and talent originated. Even after Manus relocated its base to Singapore, Beijing's position was unambiguous: offshore incorporation doesn't shield a deal from Chinese jurisdiction if the underlying tech and people are Chinese in origin. That's a warning shot for every Chinese AI company trying to go global by re-flagging abroad.
Revenue Growth Matters More Than Valuation
The more interesting number isn't the $4 billion valuation, it's revenue. Annualized run rate went from roughly $100 million in December 2025 to $400-500 million by June 2026, a 4x jump in six months. That's real paying usage, not just a funding story. Manus is also reportedly weighing a future listing, potentially in Hong Kong.
What This Means If You Use AI Agents
- The AI agent race isn't just OpenAI vs. Anthropic vs. Google anymore, Chinese autonomous agent products are scaling fast too
- Geopolitical risk is now a real factor when picking an AI agent vendor, not just a feature comparison
- Multi-step autonomous execution is becoming table stakes for agent products, not a differentiator
You won't know until you try it.
Sources / 資料來源
- Manus raises $500 million after China blocks Meta's $2 billion acquisition
- Manus Raises $500M After Meta Deal Blocked, Eyes Hong Kong IPO
- AI startup Manus raises $500 million after Meta acquisition blocked by China
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