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ByteDance Reportedly Plans to Invest RMB160B in AI Next Yr w/ Half Expected to Be Spent on Chip Purchases
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TikTok's parent company, ByteDance, plans to invest RMB160 billion (approx. US$23 billion) in the AI sector next year, with a scale exceeding this year's RMB150 billion, according to Financial Times. It is reported that about half of the RMB160 billion will be used to procure advanced chips for developing AI models and applications. However, ByteDance is currently uncertain if it can obtain Nvidia (NVDA.US) chips. If approved, the Company will order 20,000 H200 chips. AASTOCKS Financial News Website: www.aastocks.com |
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