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.
The plan to save TikTok involves software company Oracle and a group of outside investors effectively taking control of the app's global operations, two sources with
Bill Ford, the CEO of ByteDance shareholder General Atlantic, said Wednesday he was confident that a deal will be reached to ensure TikTok stays online in the US — and suggested there may be
TikTok is considering alternative solutions to selling its US business, as owner ByteDance continues the fight to keep its 170 million American users after a reprieve from the Trump administration, a board member of ByteDance was quoted by Chinese magazine Caixin as saying.
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.