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.

Also in today’s newsletter, Trump warns Putin to reach Ukraine ‘deal’ soon, and Pakistan to seek extradition of billionaire tycoon from UAE

As TikTok faces uncertainty and mounting pressure in the US, its parent company ByteDance plans an ambitious $12 billion investment in artificial

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.

The development comes as the Beijing-based company faces pressure from the US government to sell its social media app TikTok.

BEIJING: 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.

ByteDance plans to invest over $20.64 billion in capital expenditure this year, mainly focusing on artificial intelligence infrastructure such as data centers and networking equipment. This spending aims to bolster AI capabilities both domestically and internationally,

According to the Financial Times, ByteDance is planning to invest over $12 billion in artificial intelligence infrastructure in 2025. Sources familiar