ByteDance boosts AI infrastructure spending by 25% to $28 billion this year
Every Wednesday and Friday, TechNode’s Briefing newsletter delivers a roundup of the most important news in China tech, straight to your inbox. Your support helps TechNode continue to provide credible, on-the-ground journalism and industry insights about the Chinese tech industry. TikTok parent company ByteDance has increased its planned spending on AI infrastructure by 25% this year, raising the total to RMB 200 billion ($28 billion), as rising memory chip costs continue to push up expenses, according to people familiar with the matter. The company had initially set its AI capital expenditure budget at RMB 160 billion ($22.5 billion) late last year, but has since revised it upward to RMB 200 billion ($28 billion). ByteDance is also planning to allocate a larger share of its investment toward domestically produced AI chips. A source said the budget increase reflects both the company’s deepening commitment to AI and the rising cost of memory chips. [IThome, in Chinese]
