ByteDance pursues $20 billion offshore loan amid AI spending push
What's new: The proposed borrowing would top its $10.8 billion 2024 deal and could run three years, with an option to extend to five.
ByteDance is in early talks with banks for about $20 billion in offshore borrowing, a deal that would mark the TikTok owner's largest such loan to date as it ramps up spending on artificial intelligence. The Beijing-based company is seeking new-money financing with a three-year tenor and an option to extend the debt to as long as five years. The intended use of proceeds was not clear. ByteDance is weighing capital spending of as much as $70 billion this year for data centers and other AI infrastructure, a figure that could rise to $100 billion next year if conditions stay favorable. The company last tapped global loan markets in 2024, raising $10.8 billion from more than 20 lenders.