In a major regulatory move, China has blocked Meta's proposed $2 billion acquisition of AI startup Manus, dealing a blow to the tech giant's expansion plans in the region. The decision was announced on April 27, 2026, citing national security and market competition concerns.
Meanwhile, South Korea's KOSPI index surged to an all-time high, fueled by a rally in AI chip stocks. Investors cheered strong demand for semiconductors used in artificial intelligence applications, pushing the benchmark index to record levels.
These developments highlight the escalating global competition around AI technology and its economic impact.