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ZHANG Yiming, founder of Chinese tech heavyweight ByteDance, has become China's richest person for the first time, according to the Bloomberg Billionaires Index.
(Reuters) -TikTok's parent company ByteDance is offering to buy back shares at a higher valuation than six months ago as it launches a new share repurchase program for U.S. employees this week, two people familiar with the matter told Reuters on Tuesday.
BANGKOK (Reuters) - ByteDance's TikTok will invest $8.8 billion in data centres in Thailand over five years, Helena Lersch, TikTok's Vice President of Public Policy, said on Friday at an event in Bangkok.
TikTok is not the only app owned by the Chinese Internet giant ByteDance that is flickering back to life.
BEIJING (Reuters) - TikTok owner ByteDance on Wednesday released an update to its flagship AI model aimed at challenging Microsoft-backed OpenAI’s latest reasoning model products, as a global race intensified to create AI models capable of tackling complex problems.
BEIJING: 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.
Hearing a lot about Lemon8 lately? You’re not the only one.
ByteDance’s ultra-low pricing underscores growing rivalry in the Chinese market, where Big Tech firms and startups have locked horns in a brutal price war.
Some of the world’s brightest minds in AI are expected to attend this year’s Annual Conference on Neural Information Processing Systems.
The award, however, triggered speculation about whether the paper’s lead author was the ex-intern who ByteDance sued for US$1.1mil.
(Reuters) - TikTok owner ByteDance plans to spend more than $12 billion on artificial intelligence infrastructure this year, betting on the cutting-edge technology for new growth, the Financial Times reported on Tuesday, citing people familiar with the matter.
Zhong Shanshan, founder of bottled-drinks giant Nongfu Spring, blames ByteDance’s social media apps for perpetuating online assaults
(Reuters) -TikTok's parent company ByteDance is valuing itself at about $300 billion, after it recently approached investors about a share buyback program, according to two people familiar with the matter and a document viewed by Reuters.
China's ByteDance is suing a former intern for $1.1 million, alleging he deliberately attacked its artificial intelligence large language model training infrastructure, a case that has drawn widespread attention within China amid a heated AI race.
WASHINGTON (Reuters) -Chinese-based ByteDance and its short-video app TikTok on Monday asked an appeals court to temporarily block a law that would require that parent company ByteDance to divest TikTok by Jan. 19 or face a ban, pending a review by the U.S. Supreme Court.
The move underscores the TikTok owner’s ambitions to solidify Doubao’s leading position.
China’s richest man lashed out at two of the country’s biggest tech giants for fanning online vitriol targeting him earlier this year and instigating a price war that wiped out tens of billions of market value for his bottled-water empire.
SHANGHAI: ByteDance founder Zhang Yiming is China's richest person, with personal wealth of $49.3 billion, an annual rich list showed on Tuesday, although counterparts in real estate and renewables have fared less well.
Zhang has stayed out of the public spotlight since relinquishing his roles as CEO and chairman of ByteDance in 2021.
About 88 ByteDance employees were sacked, while 17 others were taken into custody by public security authorities for the reported offences.
