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.

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

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

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’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.

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.

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, 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.