TikTok owner ByteDance is reportedly still searching for non-sale options to stay in the US after the Supreme Court upheld a national security law requiring that TikTok's US operations either be shut down or sold to a non-foreign adversary.
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Exclusive: ByteDance plans $20 billion capex in 2025, mostly on AI, sources say
ByteDance plans to pump $20bn capex mostly into AI as it defends its AI lead in China
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 plans to invest $12bn in AI infrastructure
Donald Trump signed an executive order delaying the US ban on ByteDance's TikTok for 75 days, starting January 19.
Donald Trump is now being hailed as TikTok's savior after he tried to ban the app during his White House first term.
US President Donald Trump on Tuesday said he would be supportive of the world's richest man and his close aide, Elon Musk, buying TikTok "if he wanted to". Trump was asked if he would be open to the billionaire founder of Tesla buying the short-video platform facing a nationwide ban in the US after the Supreme Court last week upheld a law requiring TikTok to sever ties with its Chinese parent ByteDance.
The president-elect Sunday pledged an executive order, hours into his second term, returning access for American users, at least temporarily.
"There's no legal basis for any kind of 'extension'" to keep the popular social media app running, warned GOP Sens. Tom Cotton and Pete Ricketts on Sunday.
Donald Trump will be sworn in as president Monday, returning to power to enact his sweeping vision of America after leaving his office in shame four years ago.
TikTok is restoring service to users of the app on Sunday after it said incoming president Donald Trump provided “necessary clarity” that it would not face penalties. A law upheld by the Supreme court Friday called for a ban or sale of TikTok by today.
Donald Trump told a pre-inaugural, MAGA-heavy rally that “TikTok is back,” as he has pledged to sign an executive order that will give the social media platform more time amid a new U.S. law requiring a divestiture from its Chinese parent ByteDance.
President Donald Trump has taken the first steps toward enacting his sweeping agenda with a series of executive actions that are expected to kickstart his promised transformation of the federal government.
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