ByteDance, the Chinese technology giant behind TikTok, is seeking an offshore loan of about US$20 billion in what could become the company’s largest financing deal to date, according to a Bloomberg News report.
Citing people familiar with the matter, the report said ByteDance has begun preliminary discussions with banks for a loan that may carry a three-year tenure, with an option to extend it to as long as five years.
The proposed borrowing comes as ByteDance ramps up investments in artificial intelligence infrastructure, positioning itself as one of the industry’s biggest spenders amid intensifying global competition in AI development.
The company has been increasing expenditure and forming partnerships to secure access to advanced chips and chip design services, underscoring its ambitions to strengthen its AI capabilities beyond its core social media operations.
If completed, the financing would mark ByteDance’s largest offshore loan, highlighting the scale of capital required by major technology firms as demand for computing power and AI-related infrastructure continues to rise.
ByteDance did not immediately respond to requests for comment on the report.
The move reflects a broader trend among global technology companies pursuing significant funding to support AI expansion, data centre development and semiconductor procurement as the race to build advanced AI models accelerates.
Bloomberg
