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, 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.
San Francisco's Perplexity AI has presented the new proposal to Byte Dance, TikTok’s parent company, as the organization searches for a U.S. buyer.
Chinese ByteDance reportedly plans a $20 billion capital expenditure in 2025, mainly targeting AI as the tech giant seeks to defend its AI lead back home. Sources who spoke to Reuters revealed the TikTok owner will pump a significant chunk of the total money (150 billion yuan or $20 billion) abroad into AI infrastructure development.
ByteDance, the Chinese parent company of TikTok, has earmarked over 150 billion yuan ($20.64 billion) for capital expenditures in 2025, with a substantial portion of the funds being directed toward artificial intelligence,
ByteDance has launched an artificial intelligence (AI)-powered code editor in competition with American leaders like Cursor and Microsoft's Visual Studio Code, just after US President Donald Trump delayed the enforcement of a law requiring the company to divest TikTok.
Meta and other AI competitors are facing challenges from China's DeepSeek as its new AI model outperforms competitors at lower costs.
WASHINGTON (AP) — Perplexity AI has presented a new proposal to TikTok’s parent company that would allow the U.S. government to own up to 50% of a new entity that merges Perplexity with TikTok’s U.S. business, according to a person familiar with the matter.
Whether TikTok stays with Perplexity AI's backing or goes, without that juicy algorithm ByteDance doesn’t seem willing to part with, the app won't ever be the same.
U.S. search engine startup Perplexity AI has revised the merger proposal it had submitted to TikTok's Chinese parent ByteDance to create a new entity combining Perplexity and TikTok U.S., a person familiar with the proposal told Reuters on Sunday.
Perplexity AI revised its merger offer to TikTok parent ByteDance (BDNCE) over the weekend, with a new future IPO that could open up to a 50% stake for the U.S. government, according to multiple news reports.