ByteDance plans to buy $7B worth of Nvidia chips for new AI chatbot.

From StockTwits: 2024-12-30 23:06:30

ByteDance plans to buy $7 billion worth of Nvidia AI chips, including H100, Blackwell, and H20 chips. The purchase is intended for use in data centers outside China, in locations like Malaysia. ByteDance aims to use these chips for its new chatbot Doubao, which already has over 50 million users and offers various AI-powered functionalities. Retail sentiment on Stocktwits turned bullish following the news, with users expecting a breakout in Nvidia stock. Despite recent rangebound movement, Nvidia shares are up 189% year-to-date, outperforming the Nasdaq 100 index. Investors are also optimistic about Nvidia’s presence at CES 2025.



Read more at StockTwits: NVDA Stock Rises After Reports Reveal ByteDance Plans To Buy $7B Worth Nvidia Chips In 2025: Retail Turns Bullish