The proposed deal, currently under discussion with the White House, could leave TikTok's parent company, ByteDance, with a minority stake in the app.

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.

The new benefits package includes improved medical insurance, with access to premium medical care in regular public hospitals.

The bankers definitely want in despite this being a heavy lift because the fees on an estimated $20-plus billion deal could be pretty rich.

TikTok is considering alternative solutions to selling its US business, as owner ByteDance continues the fight to keep its 170 million American users after a reprieve from the Trump administration, a board member of ByteDance was quoted by Chinese magazine Caixin as saying.

Bill Ford, the CEO of ByteDance shareholder General Atlantic, said Wednesday he was confident that a deal will be reached to ensure TikTok stays online in the US — and suggested there may be

TikTok owner ByteDance on Wednesday released an update to its flagship AI model as a global race intensified to create AI models capable of tackling complex problems.

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.

The Chinese unicorn’s Seed Edge programme reflects its aggressive investment strategy, as other major tech firms push their AI initiatives.

TikTok's influence has been greater than its seemingly short-lived demise. The ByteDance-owned app returns after going dark over the weekend.

General Atlantic CEO and ByteDance board member Bill Ford said Wednesday that he believes TikTok soon will reach a deal to remain in the U.S.  “It’s in everybody’s interest,” Ford said

TikTok’s parent company ByteDance Ltd. has set aside 150 billion yuan ($20.64 billion) for its capital expenditure this year, and the bulk of that money will be spent on boosting its artificial intelligence capabilities, Reuters reported today.