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.

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.

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

WASHINGTON – General Atlantic CEO Bill Ford said on Wednesday that a deal would get done to save TikTok in the U.S. after President Donald Trump signed an executive order that halted a ban on the app for 75 days.

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 popular video-editing tool had remained dark for much of the day on Monday even after TikTok returned in the wake of expected action from Trump. When the TikTok ban came into force on Sunday, January 19,

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

The new benefits package includes improved medical insurance, with access to premium medical care in regular public hospitals.

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.

ByteDance released Doubao-1.5-pro, an upgrade to its flagship AI model, which it claims outperforms OpenAI's o1 in AIME.