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

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.

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’s parent company ByteDance Ltd. has set aside 150 billion yuan ($20.64 billion) for its capital expenditure this year, and the bulk of that money will be spent on boosting its artificial intelligence capabilities, Reuters reported today.

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

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.

General Atlantic CEO and ByteDance board member Bill Ford said Wednesday that he believes TikTok soon will reach a deal to remain in the U.S.  “It’s in everybody’s interest,” Ford said

Social-media giant ByteDance, China's most valuable unicorn, on Thursday unveiled its Seed Edge initiative, a long-term artificial intelligence (AI) research programme that is expected to shore up the TikTok owner's efforts in the fast-developing technology.

The Chinese unicorn’s Seed Edge programme reflects its aggressive investment strategy, as other major tech firms push their AI initiatives.

Perplexity AI revised the merger proposal it had submitted to TikTok parent ByteDance, CNBC reported on Sunday.The proposal, to create a new entity combining Perplexity and TikTok U.S., would now also allow for the U.