ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/bytedance” target=”_blank”>ByteDance, the Chinese owner of ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/tiktok” target=”_blank”>TikTok, has earmarked over 150 billion yuan ($20.64 billion) in capital expenditure for this year, much of which will be centred on ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/artificial-intelligence” target=”_blank”>artificial intelligence, two people briefed on the matter said. The privately held technology giant plans to spend about half of the amount abroad on AI-related infrastructure, primarily ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/data-centres” target=”_blank”>data centres and networking equipment, they said.
The main beneficiaries of the spending will be chipmakers ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/huawei-technologies” target=”_blank”>Huawei Technologies and ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/cambricon-technologies” target=”_blank”>Cambricon Technologies plus US supplier ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/nvidia” target=”_blank”>Nvidia, the people said,…
