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Report: ByteDance May Invest USD70B in AI Projects This Year
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Bloomberg, citing sources, reported that ByteDance plans to substantially increase capital expenditure over this year and next year. The company intends to invest up to USD70 billion this year to build data centers and other AI infrastructure, and will use approximately USD50 billion in profit achieved last year to fund most of the spending. The sources said the spending figures are only preliminary estimates and are expected to be adjusted at least quarterly. As a result, final expenditure may differ significantly from the original expectations. It is currently estimated that this year's capital expenditure may range between RMB400 billion and RMB500 billion. Sources added that ByteDance has internally discussed raising capital expenditure to about USD100 billion next year if economic and business conditions are favorable. The companys capital expenditure last year was approximately USD25 billion. (mn/da) Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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