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Tiktok-owner Bytedance plans To spend $12bn on AI chips In 2025

TikTok owner ByteDance plans to spend more than $12 billion on artificial intelligence (AI) chips this year.
FILE PHOTO: FILE PHOTO: A view shows the office of TikTok after the U.S. House of Representatives overwhelmingly passed a bill that would give TikTok's Chinese owner ByteDance about six months to divest the U.S. assets of the short-video app or face a ban, in Culver City, California, March 13, 2024. REUTERS/Mike Blake/File Photo

BEIJING: TikTok owner ByteDance plans to spend more than $12 billion on artificial intelligence infrastructure this year, betting on the cutting-edge technology for new growth, the Financial Times reported on Tuesday, citing people familiar with the matter.

Read more: Trump team weighs TikTok reprieve with conditions on data storage, ownership

This move comes as the company faces pressure from Washington to sell its popular video-sharing app in the United States.

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