ByteDance plans to invest huge amounts of money in AI

According to sources, ByteDance plans to invest more than $12 billion in artificial intelligence (AI) infrastructure in the next few years. This decision was made against the backdrop of the company facing pressure from Washington to sell the video-sharing app TikTok in the United States. ByteDance responded that the source of information about their plans was unknown and there were misunderstandings. In addition, ByteDance has booked 40 billion yuan (about $5.5 billion) to purchase AI chips in China, which is twice the amount of last year. Overseas, they plan to invest about $6.8 billion to use advanced Nvidia chips to improve the training capabilities of their basic models.