The Financial Times · 8d
TikTok owner ByteDance plans to spend $12bn on AI chips in 2025
The Beijing-based company has budgeted Rmb40bn ($5.5bn) to acquire AI chips in China in 2025, said two people familiar with the plans, which would double the amount it spent last year. The group also plans to invest about $6.8bn overseas to build up its foundation model training capabilities using advanced Nvidia chips.
newsbytesapp.com · 3d
Perplexity's revised TikTok merger plan includes 50% US government ownership
The revised plan outlines the creation of a new US holding company, "NewCo." Under this proposal, ByteDance would divest TikTok US to investors while retaining ownership of its core recommendation algorithm, a crucial factor in TikTok's global success.
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