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“ByteDance, the owner of TikTok, intends to invest over $12 billion in artificial intelligence infrastructure this year,” the publication reports, referencing two sources. The company based in Beijing has set aside 40 billion yuan, equivalent to $5.5 billion, to purchase chips in China in 2025.
Additional 6.8 billion dollars is intended to be allocated for foreign investments in initiatives aimed at enhancing ByteDance's AI models.
Simultaneously, the company refuted the insider information acquired by the newspaper in a statement to the publication.
source: ft.com
Additional 6.8 billion dollars is intended to be allocated for foreign investments in initiatives aimed at enhancing ByteDance's AI models.
Simultaneously, the company refuted the insider information acquired by the newspaper in a statement to the publication.
source: ft.com
