Search results for TikTok USDS
AI & Enterprise
TikTok U.S. unit seeks to secure 4 gigawatts of computing capacity by early 2030s
TikTok’s U.S. unit is pushing to secure multi-gigawatt computing capacity over the next several years, CNBC reported. People familiar with the talks said it wants 4 gigawatts of computing power by the early 2030s. TikTok said its U.S. service mainly runs on Oracle cloud infrastructure and Oracle will remain a key provider. Job postings and plans to retrain its recommendation algorithm on U.S. user data point to rising demand.
Industry
ByteDance valuation tops $600 billion as demand surges for founder stake sale
ByteDance, the parent of TikTok, has topped a record valuation of more than $600 billion as investor demand concentrated on a stake sale led by one of its founding members. The deal targets about $900 million in share transfers. People familiar with the matter said the seller initially priced the company at about $550 billion but raised the price amid sustained interest. ByteDance did not immediately respond to a request for comment.
Crypto
TikTok forms new U.S. entity, ending six-year controversy
TikTok owner ByteDance has established a new U.S. entity, drawing a line under a political controversy that has lasted six years. TikTok will continue its U.S. operations through TikTok USDS Joint Venture LLC with non-Chinese investors. Adam Presser was appointed CEO and TikTok CEO Shou Zi Chew will sit on the board. Oracle, Silver Lake and Abu Dhabi-based MGX each secured 15 percent stakes.