ByteDance, the Chinese owner of TikTok, has earmarked over 150 billion yuan ($20.64 billion) in capital expenditure for this year, much of which will be centred on artificial intelligence, two people briefed on the matter said.
TikTok owner ByteDance on Wednesday released an update to its flagship AI model as a global race intensified to create AI models capable of tackling complex problems.
ByteDance is placing a big bet on artificial intelligence (AI) infrastructure as the TikTok parent plans to spend more than $12 billion on AI in 2025, the Financial Times reported on Tuesday, citing sources.
TikTok’s parent company ByteDance Ltd. has set aside 150 billion yuan ($20.64 billion) for its capital expenditure this year, and the bulk of that money will be spent on boosting its artificial intelligence capabilities, Reuters reported today.
CNBC's Deirdre Bosa joins 'The Exchange' with the latest details on the AI race between the U.S. and China. CNBC's Deirdre Bosa joins 'The Exchange' with the latest details on the AI race between the U.S. and China.
NEW YORK – ByteDance is exploring a deal to keep TikTok running in the US without selling its operations there, according to board member Bill Ford.
ByteDance, the Chinese tech giant behind TikTok, has set aside over 150 billion yuan ($20.64 billion) for capital expenditure in 2025. Most of this investment will be funneled into artificial intelligence (AI) advancements, according to Reuters.
TikTok's influence has been greater than its seemingly short-lived demise. The ByteDance-owned app returns after going dark over the weekend.
With no way for users to download TikTok, thousands of eBay sellers have listed phones with the app installed — hoping to capitalize on TikTok’s disappearance from U.S. app stores following a brief ban.
Business Insider's scan of platforms like eBay and Facebook Marketplace showed hundreds of listings touting phones with TikTok and CapCut installed.
Chinese ByteDance plans a $20 billion capital expenditure in 2025, mainly targeting AI as the tech giant seeks to defend its AI lead back home.