ByteDance (BDNCE) is looking to spend over $12B on artificial intelligence infrastructure in 2025 and has allotted a budget of RMB 40B ($5.5B) to acquire AI chips in China this year.

ByteDance reportedly plans to double down on domestic AI chips following U.S restrictions. The Chinese tech giant, however, says that's false.

ByteDance plans to spend 40 billion yuan ($5.50 billion) to acquire AI chips in China in 2025, the report said, adding that the company will invest about $6.8 billion overseas to ramp up its foundation model training capabilities using advanced Nvidia chips.

Also in today’s newsletter, Trump warns Putin to reach Ukraine ‘deal’ soon, and Pakistan to seek extradition of billionaire tycoon from UAE

According to the Financial Times, ByteDance is planning to invest over $12 billion in artificial intelligence infrastructure in 2025. Sources familiar