The parent company of TikTok has offered US employees the chance to sell shares they might hold in ByteDance, a privately owned company, which could have a knock-on effect on any eventual sale of the social media app.
ByteDance, Share Buyback
ByteDance launches new round of stock buybacks, raising its valuation to $315 billion
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TikTok Parent ByteDance’s Valuation Jumps to $315B in Latest Share Buyback
ByteDance Elevates Employee Share Buyback Valuation to $315 Billion
ByteDance, the parent company of TikTok, has initiated a new share buyback program for its U.S.-based employees, offering $189.90 per share. This marks an 11% increase from the previous buyback prices of $171 and $181 per share.
STORY: Alibaba plans to spend big on artificial intelligence.The Chinese e-commerce giant said Monday (Feb 24) it aims to invest at least $52.44 billion dollars into cloud computing and AI infrastructure over the next three years.
As artificial intelligence (AI) technology and products reach a new stage, China's AI race is shifting from competition over products and technology to a contest over platform ecosystems, with tech giants including Tencent and ByteDance rushing to stake their claims,
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