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.

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.

The Chinese unicorn’s Seed Edge programme reflects its aggressive investment strategy, as other major tech firms push their AI initiatives.

WASHINGTON – General Atlantic CEO Bill Ford said on Wednesday that a deal would get done to save TikTok in the U.S. after President Donald Trump signed an executive order that halted a ban on the app for 75 days.

TikTok parent ByteDance is asking Chinese employees at its Singapore headquarters to pay tax to their home country or risk losing their ability to cash out on stock options, as Beijing steps up enforcement of its global tax scheme.

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.

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

ByteDance released Doubao-1.5-pro, an upgrade to its flagship AI model, which it claims outperforms OpenAI's o1 in AIME.

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.

President Trump this week said “TikTok is largely about kids” and there are bigger threats. China hawks aren’t convinced.