ByteDance Targets 25% Rise in AI Infrastructure Spending: SCMP

ByteDance Ltd. has boosted planned spending on artificial intelligence infrastructure this year by 25% to 200 billion yuan ($29.4 billion), as memory chip costs rise and the TikTok owner ramps up its AI presence, the South China Morning Post reported on Saturday.

The Chinese tech giant increased the AI capital expenditure budget from 160 billion yuan late last year, the SCMP said, citing people familiar with the matter. ByteDance is now planning to spend a larger portion on domestic AI chips, according to the report.