ByteDance denies rumors of a $12 billion investment in AI infrastructure, with relevant sources stating that the budget planning information is inaccurate

ChainCatcher news, according to Caixin, in response to market rumors that ByteDance plans to invest $12 billion in developing AI infrastructure, including 40 billion RMB for AI chip procurement by 2025 and $6.8 billion in overseas investments, ByteDance officially denied the claims. Company insiders stated that while the company places great importance on the development of the AI field, the specific budget plans mentioned in the rumors are not true.