ByteDance, the owner of TikTok, plans to invest $23B in AI in 2026, up from $150B in 2025. The capital expenditure will focus on acquiring advanced semiconductors to develop AI models. Oracle, Silver Lake, and MGX will collectively own 45% of the U.S. entity. Other publicly traded social media companies include Meta, Pinterest, Reddit, and Snap.

Read more at Yahoo Finance: ByteDance plans to spend $23B on AI in 2026, FT reports