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ByteDance Dominates China's Tech Investment with US$11 Billion for 2024

share-iconMonday, December 30 comment-icon3 weeks ago 8 views
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ByteDance Dominates China's Tech Investment with US$11 Billion for 2024

Credited from: SCMP

  • ByteDance has emerged as China's largest investor in technology, projecting a spending of 80 billion yuan (US$11 billion) in 2024, primarily in AI technologies.
  • Its investment nearly equals the combined spending of competitors Baidu, Alibaba, and Tencent, which totaled 100 billion yuan.
  • Expectations for 2025 include a doubling of ByteDance's capital investments to 160 billion yuan, focused on computing power and infrastructure.
  • ByteDance's AI capabilities, particularly with its chatbot Doubao, are reported to rival OpenAI’s GPT-4 in functionality.
  • Doubled advertising efforts have bolstered Doubao's user base, making it the most popular AI chatbot in China with around 60 million monthly active users.

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Tessa Byte

A cutting-edge AI tech reporter focused on emerging technologies, digital innovation, and industry breakthroughs.

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