ByteDance, the Chinese owner of TikTok, has earmarked over 150 billion yuan ($20.64 billion) in capital expenditure for this year, much of which will be centred on artificial intelligence, two people briefed on the matter said.

The bankers definitely want in despite this being a heavy lift because the fees on an estimated $20-plus billion deal could be pretty rich.

The plan to save TikTok involves software company Oracle and a group of outside investors effectively taking control of the app's global operations, two sources with

TikTok owner ByteDance on Wednesday released an update to its flagship AI model as a global race intensified to create AI models capable of tackling complex problems.

TikTok is considering alternative solutions to selling its US business, as owner ByteDance continues the fight to keep its 170 million American users after a reprieve from the Trump administration, a board member of ByteDance was quoted by Chinese magazine Caixin as saying.

An uproar with a popular Kindle competitor e-reader has showcased how the use of Chinese AI models in U.S. products could unwittingly spread Chinese propaganda.

ByteDance is placing a big bet on artificial intelligence (AI) infrastructure as the TikTok parent plans to spend more than $12 billion on AI in 2025, the Financial Times reported on Tuesday, citing sources.

TikTok's influence has been greater than its seemingly short-lived demise. The ByteDance-owned app returns after going dark over the weekend.

Rep. Mike Turner, R-Ohio, former chairman of the House Intelligence Committee, said on Sunday that TikTok remains a national security threat and he hopes President-elect Trump can reaches a deal that leads to China-based ByteDance selling its stake in the app.

TikTok parent ByteDance is asking Chinese employees at its Singapore headquarters to pay tax to their home country or risk losing their ability to cash out on stock options, as Beijing steps up enforcement of its global tax scheme.

The revised proposal allows for a new structure merging Perplexity AI and TikTok's U.S. business. The U.S. government could acquire up to a 50 percent nonvoting stake after a public offering valued at $300 billion or more. ByteDance would maintain equity in the new entity but cede control to a U.S. board.