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Related Special Reports
...Privately held ByteDance does not disclose its financial data. The company declined to comment on the financial figures....
...TikTok’s Beijing-based owner ByteDance tightened its grip over its US operations over the past two years, according to company insiders, even as momentum to ban the short-video app grew in Washington....
...ByteDance, the app’s Beijing-based parent, is facing a backlash from US employees over a stock awards programme that blocks them from cashing in their shares while leaving them exposed to a large potential...
...HongShan, Moonshot AI and ByteDance were named in a US congressional report this month which scrutinised American capital invested in Chinese tech companies that support Beijing’s military and its repression...
...Investors’ options for monetising their shareholdings in privately held ByteDance have been narrowing, with the group postponing an intended Hong Kong listing several times since Beijing launched a crackdown...
...ByteDance has offered to buy shares held by employees outside the US for about $171 each, in a broad extension of a buyback programme it launched in the US in March, according to internal documents seen...
...Commerce ministry spokesperson He Yadong added that ByteDance must obey Chinese laws, a reference to export controls introduced in 2020 to give Beijing control over any TikTok divestiture....
...Jeff Yass’s Susquehanna International Group first invested $80,000 in ByteDance, the Chinese owner of TikTok, on the back of an idea sketched on a napkin in a Beijing coffee shop more than a decade ago....
...Last year, Suzhou, a city west of Shanghai, set up a trading platform to “co-ordinate the city’s computing resources”, according to its website....
...Beijing’s commerce ministry said last year it would “firmly oppose” a forced sale by ByteDance....
...US security and intelligence officials have in recent days held classified briefings for lawmakers to stress what they say are the national security risks of allowing ByteDance, a Chinese company, to own...
...Coming up short Jeff Yass’s Susquehanna International Group first invested $80,000 in TikTok parent ByteDance a decade ago, betting on an idea sketched out on a napkin in a Beijing coffee shop....
...Additional reporting by Nian Liu in Beijing...
...A TikTok spokesperson did not respond to questions about how ByteDance could deny such requests from Beijing....
...A panel on the geopolitics of AI said there was “not a lot” of hope to include Beijing in the talks about AI safety and regulation that the US is having with its allies....
...MBDA, a European missile powerhouse originally formed from a merger of British Aerospace’s missile manufacturing division and France’s Matra, is being held up as a model for defence industry collaboration...
...An optimist might retort that ByteDance is just an idiosyncratic case. Perhaps so: few other companies generate this level of fury from both diplomatic pundits and parents....
...The company is already building a new factory in Hungary that will produce its first cars next year, and the business plans to start studying sites for a second plant in the coming months....
...Their concerns have been exacerbated by the launch this month of US legislation that would require ByteDance, a leading Chinese technology group backed by more than a dozen private funds, to divest or face...
...The app, owned by Beijing-based ByteDance, achieved record revenues in the US in 2023, three people with knowledge of its finances told reporters at the FT....
...At last month’s Beijing Auto Show, Nissan announced a partnership with China’s search and mapping group Baidu in artificial intelligence technology and promised to produce more cars in the country....
...After being sentenced to 25 years in federal prison, the FTX co-founder will have plenty of time to think privately about ostensible vindication....
...However, two people with knowledge of the matter said the sell-off included shares in Beijing-based ByteDance....
...Compared with rivals, ByteDance has been slow in releasing its own large language models, the technology that underpins generative AI technology like OpenAI’s ChatGPT....
...“There is a shift in power among the top five companies, which will probably continue,” said Nabila Popal, research director at IDC....
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