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 bankers definitely want in despite this being a heavy lift because the fees on an estimated $20-plus billion deal could be pretty rich.
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
TikTok owner ByteDance is reportedly still searching for non-sale options to stay in the US after the Supreme Court upheld a national security law requiring that TikTok's US operations either be shut down or sold to a non-foreign adversary.
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.
An uproar with a popular Kindle competitor e-reader has showcased how the use of Chinese AI models in U.S. products could unwittingly spread Chinese propaganda.
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 influence has been greater than its seemingly short-lived demise. The ByteDance-owned app returns after going dark over the weekend.
General Atlantic CEO and ByteDance board member Bill Ford said Wednesday that he believes TikTok soon will reach a deal to remain in the U.S. “It’s in everybody’s interest,” Ford said
Rep. Mike Turner, R-Ohio, former chairman of the House Intelligence Committee, said on Sunday that TikTok remains a national security threat and he hopes President-elect Trump can reaches a deal that leads to China-based ByteDance selling its stake in the app.