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via Decrypt · By Decrypt Editorial
TikTok's Parent Company Just Borrowed $30 Billion to Go All-In on AI
DE
Decrypt Editorial(09:46 PM UTC)
1 min read
In brief
- TikTok parent company ByteDance secured a $29.6 billion loan from nearly 30 Chinese and international banks, according to Reuters.
- Strong lender demand prompted the company to raise the facility from an initial target of $20 billion.
- Sources said the money will mainly support AI projects outside China.
TikTok parent ByteDance has secured a $29.6 billion loan from nearly 30 banks as it…
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