ByteDance plans to spend $23B on AI in 2026, FT reports

Group 1 - ByteDance plans to increase its capital expenditure on AI to $23 billion (RMB 160 billion) in 2026, up from RMB 150 billion in 2025 [1] - More than half of the 2026 expenditure will be allocated to acquiring advanced semiconductors for AI model and application development [1] - A deal involving Oracle, Silver Lake, and MGX will result in them collectively owning 45% of a U.S. entity, with ByteDance retaining nearly 20% [1] Group 2 - Publicly traded companies in the social media sector include Meta Platforms, Pinterest, Reddit, and Snap [1]