BYTEDANCE REGULATORY PRESSURES
Microsoft retreats in China, but AI boom helps it keep a window open
The year was 2010 and Google was about to exit due to concerns over censorship and cyberattacks. That decision was lauded by democracy activists, but not Bill Gates and Microsoft's then-CEO Steve Ballmer, who suggested Google was overreacting. In the past five years, however, at least 15 Microsoft branch offices and joint ventures in China have been shut, corporate filings show, and Microsoft is pursuing what five company sources described as a strategy of retreat.
TikTok to build a second billion-euro data centre in Finland
TikTok plans to invest 1 billion euros ($1.16 billion) to build a second data centre in Finland in less than a year as it moves data storage for European users to the continent, company officials said on Wednesday.
All-in on AI: what TikTok creator ByteDance did next
ByteDance, the Beijing-based owner of TikTok, is shifting strongly into artificial intelligence after years of legal and privacy scrutiny. Its chatbot Doubao, launched in 2023, has become China’s most popular AI assistant with over 100 million daily users, rivalling services from OpenAI and Google. New tools like Seedance 2.0 are boosting its global profile, though overseas challenges remain.
TikTok to tighten age checks in Europe as regulators ramp up pressure
TikTok will start rolling out new age-detection technology across Europe in the coming weeks as the ByteDance-owned platform faces regulatory pressure to better identify and remove accounts belonging to children under 13.
Krafton’s Rs 6,000 crore fund; India turns AI hotspot
Krafton is planning to double down on India with its new fund. This and more in today’s ETtech Top 5.
China says no to Nvidia H200 chips, but quietly holds secret meet with Alibaba, Tencent and ByteDance to gauge demand
China may limit access to Nvidia H200 chips despite Trump approving exports. Beijing held emergency talks with Alibaba, ByteDance, and Tencent to gauge demand. Companies may need approval and must explain why local chips can’t meet needs. H200 chips outperform domestic alternatives, driving critical AI workloads. China’s drive for semiconductor independence—anchored in Made in China 2025 and the 14th Five-Year Plan—targets 70% domestic chip production by 2025.
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China's internet firms cautiously revive lending as Beijing pushes consumer loans
Beijing began reining in what it described as "disorderly expansion" by internet platforms in 2020 by pulling the IPO of Alibaba-affiliated Ant Group, followed by business restructuring orders and fines on Ant and others.
Alibaba shares jump on major AI chip deal with China Unicom: How it impacts investors and China’s tech push
Alibaba (BABA) shares surged today after the company announced a landmark deal with China Unicom, the nation’s second-largest telecom operator. Under the agreement, Alibaba’s domestically developed AI chips from its T-Head unit will be integrated into a new $390 million data center in Xining, Qinghai. The stock rose over 5% in Hong Kong and climbed more than 2% in U.S. premarket trading.
China's Alibaba develops new AI chip to help fill Nvidia void: Report
China's Alibaba has developed a new chip that is more versatile than its older chips and is meant to serve a broader range of AI inference tasks, the Wall Street Journal reported on Friday, citing people familiar with the matter.
TikTok owner ByteDance sets valuation at over $330 billion as revenue grows, sources say
The company plans to offer current employees $200.41 per share in the repurchase programme, the people said, up 5.5% from $189.90 each it offered them about six months ago which valued ByteDance at roughly $315 billion.
White House joins TikTok with Trump promo, and the backlash from young users is already brutal
The White House has officially launched its TikTok account, @whitehouse, focusing to engage younger audiences amid ongoing debates over the platform’s U.S. operations. Advocates praise the move as a forward-thinking approach , critics emphasize security and regulatory concerns. The initiative reflects the expanding influence of social media in modern government communication strategies.
Top 10 richest people in China as per Forbes & a bad news for TikTok owner
Zhong Shanshan remains China's wealthiest individual for the fourth consecutive year despite a significant decrease in his net worth. China's richest saw their collective wealth surpass US$1 trillion, fueled by a resurgence in the stock market. Ma Huateng, chairman of Tencent Holdings, experienced the most substantial gain, propelling him to the second spot on the list.
TikTok slashes hundreds of jobs in AI shift
"We expect to invest $2 billion globally in trust and safety in 2024 alone and are continuing to improve the efficacy of our efforts, with 80% of violative content now removed by automated technologies," the spokesperson said in a brief statement.
ByteDance cuts over 700 jobs in Malaysia in shift towards AI moderation, sources say
The employees, most of whom were involved in the firm's content moderation operations, were informed of their dismissal by email late Wednesday, the sources said, requesting anonymity as they were not authorized to speak to media.
As Big Tech scrambles to meet EU rules, investigations seen as likely
If any of the six tech giants are not compliant with the Digital Markets Act (DMA) by the EU's Thursday deadline, they could face fines up to 10% of their global turnover.
Alibaba considers yielding control of some businesses in overhaul
Group CEO Daniel Zhang said the company's breakup into separate businesses will allow its units to become more agile and eventually launch their own initial public offerings (IPO). His comments come two days after Alibaba announced the largest restructuring in the company's history, which will see it change into a holding company structure with six business units, each with their own boards and CEOs.
Alibaba to decide on control over new business units after IPOs
Group CEO Daniel Zhang said the company's breakup into separate businesses will allow its units to become more agile and eventually list on their own.
Tencent resumes growth, posts $21.9 billion revenue in December quarter
Tencent Holdings Ltd.’s revenue inched up after two quarters of contractions, fueling hopes that Beijing will again allow the world’s largest internet arena to thrive.
TikTok planning 2 more data centers in Europe amid data security concerns
TikTok has been seeking to assure governments and regulators that users' personal data cannot be accessed and its content cannot be manipulated by China's Communist Party or anyone else under Beijing's influence.
ByteDance plans for maximum of nine board directors: source
This week Reuters reported that TikTok, the popular short video app, could face a fine of $29 million in Britain after an investigation showed it may have breached data protection laws regarding the privacy of children.
TikTok nears Oracle deal in bid to allay US data concerns
The agreement would come a year and a half after a US national security panel ordered ByteDance to divest TikTok because of fears that US user data could be passed on to China's communist government.
View: Chinese tech under scrutiny, Indian tech can gain
Since February 2021, Chinese tech companies have lost more than $800 billion in market value. Indian tech companies are aware that these developments will create unprecedented opportunities for them.
Hong Kong stocks post weekly losses as Beijing's clampdown widens
The Hang Seng index fell 2% to 28,724.88, while the China Enterprises Index lost 2% to 10,825.25 points.
Facing pressure at home, Chinese tech giants expand in Singapore
Chinese tech giants are expanding in Singapore as they face a crackdown at home and growing pressure in other key markets - but they may struggle to find talent in the city-state.
ETtech Evening Briefing on 27 Jan. 2021: Top Tech News Today, in 10 Minutes
From Pine Labs’ AllTap app for contactless payments to Bytedance’s layoffs in India in the aftermath of the TikTok ban, here’s a look at the top tech news today.
How a marked-up term sheet and messy rollout threw TikTok deal into disarray
What appeared as a coup clinched by Mnuchin, a former Goldman Sachs Group Inc investment banker, did not hold. ByteDance would subsequently announce a deal under which TikTok would remain its subsidiary, contradicting Oracle and Walmart, which said the majority owners would be Americans.
ByteDance is poised to miss US deadline for TikTok sale
ByteDance founder Zhang Yiming has been caught in a clash between the world’s two preeminent powers. The serial entrepreneur has been reluctant to give up US TikTok from the start because he sees the business as a viable long-term competitor to Facebook Inc. and Google.
TikTok dials Mukesh Ambani, wants to know if he is willing to tango in India
India ops of short-video app said to be valued at $2.5-5 billion; RIL terms report ‘speculation’
TikTok owner ByteDance considers listing China business in Hong Kong or Shanghai: Sources
Of the two venues, the company prefers Hong Kong, according to two of the people. One of the two also said ByteDance is simultaneously studying the option to list its smaller, non-China business - which includes TikTok that is not available in China - in Europe or the United States.
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