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ByteDance leads China's tech investment with $11 billion in 2024

share-iconTuesday, December 31 comment-icon3 weeks ago 8 views
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ByteDance leads China's tech investment with $11 billion in 2024

Credited from: SCMP

  • ByteDance has emerged as the largest investor in technology in China, spending an estimated US$11 billion in 2024.
  • The company's investment is nearly equal to the combined spending of its major competitors, Baidu, Alibaba, and Tencent, which totaled around US$14 billion.
  • ByteDance plans to substantially increase its capital expenditure, anticipating a rise to 160 billion yuan in 2025, primarily for computing power and infrastructure.
  • Its AI chatbot, Doubao, has quickly become the most popular AI chatbot in China, boasting 60 million monthly active users as of November.
  • The company's aggressive investment strategy aims to enhance its core platforms by improving recommendation algorithms and user engagement.

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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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