MOSCOW, Jan 22 (Bernama-Sputnik/RIA Novosti) - Chinese company ByteDance, the owner of the TikTok social media platform, plans to spend over US$12 billion on developing AI-related infrastructure in 2025, the Financial Times newspaper reported on Wednesday, citing people familiar with the plans, according to Sputnik/RIA Novosti.
The company plans to spend US$5.5 billion, double from 2024, on purchasing AI chips in China, while also allocating around US$6.8 billion in foreign investments to improve its own AI models, the people said.
Around 60 per cent of the domestic chip orders are expected to go to companies like Huawei and Cambricon, while the rest are set to be purchased from Nvidia, whose chips have been changed to comply with US legislation, the people noted, adding that Beijing has also given Chinese tech companies an informal order to buy 30 per cent of their chips from local producers.
The Chinese company itself, in a comment to the newspaper, rejected the report, calling the anonymously sourced information "incorrect".
On Tuesday, US President Donald Trump announced that US tech giants OpenAI and Oracle, and a major Japanese investment company, Softbank, will invest US$500 billion in a new company, Stargate, to build artificial intelligence infrastructure in the United States.
-- BERNAMA-SPUTNIK/RIA NOVOSTI
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