Meta Platforms' (META) proposed $800 million acquisition bid for FuriosaAI has been rejected by the South Korean company, multiple media outlets reported Monday, citing unnamed sources familiar with the matter.
Bloomberg reported that the technology giant had been in talks since the start of 2025 to take over FuriosaAI, citing an unnamed person with knowledge of the matter.
FuriosaAI informed staffers that the company will not proceed with acquisition talks with Meta, Yonhap News Agency reported, quoting unidentified sources.
The Seoul-based startup intends to raise capital before eventually applying for an initial public offering, the unnamed sources told Bloomberg, adding that the company is expected to close an extended Series C financing round in about a month.
Neither Meta nor FuriosaAI immediately responded to MT Newswires' requests for comment.
Meta's stock was up 2% in recent Monday premarket activity.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.