TikTok’s Chinese owner plans $23bn AI spend to keep pace with US rivals
ByteDance set to increase capital expenditure next year in effort to further build AI infrastructure
Related reading
British investor builds $500mn stake in TikTok owner
Fred Blackford bets on valuation gap between China’s ByteDance and its Silicon Valley rivals
TikTok says Chinese owner will retain core US business
Oracle, Silver Lake and MGX to invest in new data security joint venture as part of Trump-brokered deal
China’s tech giants take AI model training offshore to tap Nvidia chips
Alibaba and ByteDance shift development to south-east Asia to sidestep US curbs
Big Tech’s AI payback might be coming into view
Earnings hint at growth trajectory despite increases in capital spending
Investors glimpse pay-off for Big Tech’s mammoth spending on AI arms race
Earnings reports of major players show how artificial intelligence services are boosting revenues
Big Tech groups race to fund unprecedented $660bn AI spending spree
Executives face choice between cutting returns to shareholders, raiding reserves or tapping the markets