The bankers definitely want in despite this being a heavy lift because the fees on an estimated $20-plus billion deal could be pretty rich.

TikTok owner ByteDance on Wednesday released an update to its flagship AI model as a global race intensified to create AI models capable of tackling complex problems.

ByteDance, the Chinese owner of TikTok, has earmarked over 150 billion yuan ($20.64 billion) in capital expenditure for this year, much of which will be centred on artificial intelligence, two people briefed on the matter said.

An uproar with a popular Kindle competitor e-reader has showcased how the use of Chinese AI models in U.S. products could unwittingly spread Chinese propaganda.

TikTok's influence has been greater than its seemingly short-lived demise. The ByteDance-owned app returns after going dark over the weekend.

TikTok’s parent company ByteDance Ltd. has set aside 150 billion yuan ($20.64 billion) for its capital expenditure this year, and the bulk of that money will be spent on boosting its artificial intelligence capabilities, Reuters reported today.

ByteDance is exploring a deal that would keep TikTok running in the U.S. without selling its operations, Jack Sidders, Lisa Abramowicz, and

Social-media giant ByteDance, China's most valuable unicorn, on Thursday unveiled its Seed Edge initiative, a long-term artificial intelligence (AI) research programme that is expected to shore up the TikTok owner's efforts in the fast-developing technology.

Any purchase would have to satisfy the government’s national security concerns over its owner, ByteDance, and its ties to China.

By Nandita Bose, Dawn Chmielewski, Milana Vinn and Kanishka Singh ABOARD AIR FORCE ONE (Reuters) -U.S. President Donald Trump said on Saturday he was in talks with multiple people over buying TikTok and would likely have a decision on the popular app's future in the next 30 days.

Under the deal being negotiated by the White House, TikTok’s China-based owner, ByteDance, would retain a stake in the company, but data collection and software updates would be overseen by Oracle, which already provides the foundation of TikTok’s Web infrastructure, one of the sources told Reuters.