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ByteDance plans to invest nearly US$12b in AI
Business
- 22 January, 2025
- 09:16
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TikTok’s owner ByteDance plans to invest over $12 billion (HK$93.6 billion) in artificial intelligence infrastructure this year, Report informs, citing The Financial Times.
The Chinese tech firm has allocated about $5.5 billion for purchasing AI chips in China and nearly $6.8 billion overseas to enhance its model training capabilities using advanced Nvidia chips, the newspaper said, citing sources.
However, ByteDance said the information about the plan was “incorrect” in response to the report.
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