ByteDance borrows $29.6 billion from 28 banks for SI and data centers outside China
Prepared by Sintelligent with the help of SI. Publication time restored from the build log. . Updated: .
The race for computing power has become so expensive that even giants take record loans for it, and banks are happy to lend.
TikTok's parent company obtained a three-year unsecured dollar loan from almost 30 banks led by Citigroup and JPMorgan; more than 60% was provided by Chinese banks. It originally sought $20 billion, but demand allowed the amount to be increased; it is the second-largest corporate loan in Asia this year after SoftBank's $40 billion. The money will go to SI and data centers outside China, including in Southeast Asia.
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