Based on these sources, the firm is seeking a three-year loan with the possibility of extending it to five years.
The purpose of the funds by ByteDance remains uncertain, yet the company has recently been making significant investments in artificial intelligence technologies.
In May, Bloomberg announced that the firm intends to raise its investment in building data centers and additional AI infrastructure to $70 billion this year and $100 billion next year.
In 2024, ByteDance obtained a significant loan in the global market, acquiring $10.8 billion from over 20 lenders, which included both Chinese and international banks. Citigroup, Goldman Sachs, and JPMorgan Chase served as coordinators for the event last year.
source: bloomberg.com
