ByteDance is seeking $20 billion overseas loan to boost AI and cloud computing

ByteDance is in early talks with several banks for a $20 billion overseas loan, which would be the company's largest offshore financing ever. The loan has a 3-year term with an option to extend up to 5 years.

ByteDance has become a major global AI investor in recent years, boosting spending and partnering on AI chip supply and design. If the deal goes through, the funds will support its AI and cloud computing expansion.