ByteDance seeks $20 billion offshore loan, its biggest ever
ByteDance, the company behind TikTok, is looking to borrow $20 billion offshore, its biggest loan ever, if it happens.
Talks are just starting, and nothing is locked in yet, but the plan is for a three-year term with an option to extend for two more years.
ByteDance eyes AI and data centers
The money would help ByteDance ramp up spending on AI and data centers.
This year, it is weighing plans to invest up to $70 billion in AI tech and might push that to $100 billion next year if things go well.
This move is not unique: big US companies like Amazon, Google, Microsoft, and Meta are planning as much as a combined $725 billion into similar projects this year.
ByteDance raised $10.8 billion in 2024
In 2024, ByteDance raised $10.8 billion globally and used some of it to refinance older loans.
Major banks like Citigroup, Goldman Sachs, and JPMorgan Chase helped coordinate those deals, showing ByteDance is serious about staying flexible while investing big in tech.