Billionaire Larry Robbins’ 5 Dividend Stock Picks

4. Meta Platforms, Inc. (NASDAQ:META)

Glenview Capital’s Stake Value: $70,178,610

On June 11, Bloomberg reported that Meta Platforms, Inc. (NASDAQ:META) had completed an operational split from Manus and stopped data sharing between the two companies. The move marks a significant step toward unwinding a $2 billion acquisition that Beijing has opposed.

According to people familiar with the matter, the owner of Facebook and Instagram has effectively created a firewall between itself and the Chinese-founded agentic AI service. The sources said Meta blocked Manus and its employees from accessing the company’s internal data systems at the beginning of the month. Meta employees can no longer use Manus tools for internal projects either. The people requested anonymity because the decisions are private.

The separation comes as Manus’s founders explore ways to meet Beijing’s demand to reverse the deal. One option under consideration is raising about $1 billion to finance a buyback.

According to an internal memo reviewed by Bloomberg News, Meta is “sunsetting” Manus. Employees were instructed to move existing Manus projects onto Meta’s own systems and avoid starting new work on the AI platform. The actions taken to separate the two operations represent another step toward eventually spinning off Manus, the people said.

Meta Platforms, Inc. (NASDAQ:META) is focused on building human connections through artificial intelligence and immersive technologies. Its products allow people to connect and share with friends and family through mobile devices, personal computers, virtual reality (VR) and mixed reality (MR) headsets, augmented reality (AR), and wearable devices.