TikTok owner ByteDance plans to spend $12 billion on AI chips in 2025

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.

This move comes as the Chinese company faces pressure from Washington to sell its popular video-sharing app in the United States.

“The anonymously sourced information about our plan is incorrect,” a ByteDance spokesperson said in response to the FT report.