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 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.

ByteDance, the parent company of TikTok, plans to invest over $12 billion in artificial intelligence (AI) infrastructure by 2025, according to the Financial Times. This strategic move comes amidst pressure from Washington for the Chinese firm to sell its popular video-sharing app in the United States.

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

ByteDance, the parent company of TikTok, is reportedly preparing to invest more than $12 billion in artificial intelligence infrastructure by the year 2025. According to a report from the Financial Times,

Chinese ByteDance reportedly plans a $20 billion capital expenditure in 2025, mainly targeting AI as the tech giant seeks to defend its AI lead back home. Sources who spoke to Reuters revealed the TikTok owner will pump a significant chunk of the total money (150 billion yuan or $20 billion) abroad into AI infrastructure development.

ByteDance, the owner of TikTok, plans to invest over $12 billion in AI infrastructure in 2023. This strategic move aims to capitalize on advanced technology for growth, amid mounting U.S. pressure to sell its app.

ByteDance: The main beneficiaries of the spending will be chipmakers Huawei Technologies and Cambricon Technologies plus US supplier Nvidia, the people said, declining to be identified as the information was confidential.

ByteDance refuted the Financial Times' report, stating: “The anonymously sourced information about our plan is incorrect.” ByteDance is also facing competition from local giants including ...

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