ByteDance refutes $7b Nvidia chip claims

ByteDance has refuted reports claiming it plans to spend US$7 billion on Nvidia chips by 2025.

Douyin Group Vice President Li Liang indicated the reports are inaccurate and include incorrect figures.

Li clarified that the company’s procurement of computing power and data center projects are managed by its systems department.

He noted that founder Zhang Yiming is not involved in these efforts.

A spokesperson for Nvidia declined to comment when approached for clarification.

Recent ByteDance developments

Timeline
31-Dec-2024 🚀 ByteDance named China’s top tech investor this year: report ByteDance invests nearly $11B in 2024 tech Plans to double spending to $22B in 2025 for AI
20-Dec-2024 💰 ByteDance cuts AI costs by 85% in China’s tech race ByteDance cuts genAI model cost by 85% Chinese tech giants in price war for AI services
15-Dec-2024 🎥 ByteDance shifts focus to AI video generators, not chatbots ByteDance shifts focus to AI video generators. AI chatbots seen as slower growth opportunity.
10-Dec-2024 ⚖️ ByteDance seeks to block US sell-off order ByteDance seeks block on TikTok sale law Deadline aligns with Trump’s presidential inauguration
04-Dec-2024 🖼️ ByteDance expands AI Doubao with image recognition feature

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