Tag: $ByteDance

ByteDance, Alibaba and Tencent have ordered more than 3 million of Nvidia’s new RTX PRO 5500 graphics cards with a collective sticker price of over $35 billion, two people familiar with the matter said, in a ​rush for a less powerful but export-compliant chip amid US restrictions on trade with China.

UPS on Tuesday said it had inked an exclusive deal to provide no-box, no-label returns for the fast-growing TikTok Shop network ​of US sellers as it competes with rivals like FedEx to ‌provide specialized services that generate more profit than typical e-commerce package deliveries.

ByteDance Ltd., the developer of TikTok, has secured a $29.6 billion loan, according to people familiar with the matter, in Asia’s second-largest dollar-denominated borrowing this year.

Qualcomm is in talks to provide chip-design services to China’s ByteDance, four people familiar with the matter said, as the U.S. company seeks to reduce dependence ​on the smartphone market, its biggest revenue source.

ByteDance will take steps to prevent the unauthorised use of intellectual property on its AI video generator Seedance 2.0, the Chinese technology firm said on Monday, following threats of legal action from U.S. studios, including Disney (DIS).

TikTok’s Chinese owner, ByteDance, on Thursday said it has finalized a deal to establish a majority American-owned joint venture that will secure U.S. data, to avoid a U.S. ban on the short video app used by over 200 million Americans.

TikTok’s Chinese owner, ByteDance, on Thursday signed binding agreements to hand control of the short video app’s U.S. operations to a group of investors, including Oracle (ORCL) in a big step toward avoiding a U.S. ban and ending years of uncertainty.

ByteDance and Alibaba have asked Nvidia (NVDA), about buying its powerful H200 AI chip after U.S. President Donald Trump said he would allow it to be exported to China, four people briefed on the matter told Reuters.

Top Chinese companies are training their artificial intelligence models overseas to access Nvidia’s chips and bypass US efforts to prevent their development of the powerful technology.

Chinese regulators have barred ByteDance, the owner of TikTok, from using Nvidia chips in new data centers, according to a report from The Information on Wednesday.

President Donald Trump signed an executive order on Thursday declaring that his plan to sell Chinese-owned TikTok’s U.S. operations to U.S. and global investors will address the national security requirements in a 2024 law.

U.S. President Donald Trump told Fox News in an interview aired on Sunday that he has a group of “very wealthy people” ready to buy TikTok, whose identities he can reveal in about two weeks.

The Beijing-based company has budgeted Rmb40bn ($5.5bn) to acquire AI chips in China in 2025, according to two people familiar with the plans, which would double the amount it spent last year. The group also plans to invest about $6.8bn overseas to beef up its foundation model training capabilities using advanced Nvidia chips.

The US Supreme Court on Wednesday said it will hear TikTok’s appeal against a divest-or-ban law that will determine the video app’s fate in the US.

ByteDance Ltd.’s sales surged in 2023 to more than $110 billion, according to people familiar with the matter, potentially overtaking arch-foe Tencent Holdings Ltd. in a sign TikTok’s fledgling e-commerce business is driving growth at a time of economic malaise.

ByteDance is cutting hundreds of jobs in its gaming division, a person familiar with the mater told CNBC.