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.

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.

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.

ByteDance is exploring a deal that would keep TikTok running in the U.S. without selling its operations, Jack Sidders, Lisa Abramowicz, and

Social-media giant ByteDance, China's most valuable unicorn, on Thursday unveiled its Seed Edge initiative, a long-term artificial intelligence (AI) research programme that is expected to shore up the TikTok owner's efforts in the fast-developing technology.

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.

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

The proposed deal, currently under discussion with the White House, could leave TikTok's parent company, ByteDance, with a minority stake in the app.