ByteDance refutes a report from The Information claiming that it plans to spend as much as $7 billion on NVIDIA processors by 2025, in order to expand its AI. The report, citing sources within the company, also claimed that TikTok’s owner ByteDance plans to invest more than $20 billion in AI chip, data centers and hardware, such as submarine cable, next year. $7 billion of this amount will be allocated to cloud services overseas. A ByteDance representative called the claims regarding NVIDIA chip purchase inaccurate. [The Information]
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