Bytedance

ByteDance has signed a $29.6 billion loan agreement with 28 banks as the TikTok developer expands its artificial intelligence operations. The financing comes as major technology firms face growing scrutiny over AI spending, safety risks, and infrastructure demand.

TikTok is developing an in-app feature that could let U.S. users send and receive money through direct messages, with payments accepted before they expire. The tool is not being tested yet, but it highlights ByteDance’s broader ambition to expand financial services across its social platforms.