Chinese AI startup Manus is in talks to raise $500 million at a $4 billion valuation, according to The Wall Street Journal, citing anonymous sources. The fundraising comes after Manus resumed operations as an independent company, following the collapse of its planned merger with Meta. Potential investors in the round include IDG Capital, Boyu Capital, battery maker Contemporary Amperex Technology, and existing backers Tencent, HSG, and Zhenfund. The Journal also reported that Manus is considering a restructuring to prepare for a Hong Kong IPO.

Manus went viral last year after a demo of its AI agent. In mid-2025, it relocated staff to Singapore, and in December it announced a $2 billion acquisition deal with Meta. At the time, the startup was said to be generating over $100 million in annual recurring revenue. The deal was blocked by Beijing, which cited potential violations of export controls and foreign investment rules amid intensifying worries in China about losing AI talent and researchers to the West.

Since the deal fell apart, Manus has been separating from Meta. Its early investors and backers reportedly helped the company buy back its shares at a valuation of about $2 billion. As part of the separation, Manus told users in August that they would need to export and back up their own data because it had to delete data generated after Meta‘s acquisition to comply with regulatory requirements in specific jurisdictions. This month, the company said it has resumed independent operations and that its founding team will continue to lead it.

Manus makes AI products and agents similar to what OpenAI, Lovable, and Replit offer, including a chatbot, vibe-coding tools for building apps and websites, design and presentation creation, video generation, and a browser assistant. Manus did not immediately return a request for comment.