ByteDance secures $29.6 billion loan for AI spending
ByteDance has lined up a $29.6 billion loan from almost 30 banks worldwide. Sources told Economic Times Tech the loan is unsecured—that is, ByteDance isn’t putting up any collateral—and most of the funds are expected to back the company’s AI and data center expansion. Intense demand from banks let ByteDance raise the facility from an initial $20 billion, but the deal isn’t officially signed yet.
- Loan demand raised target from $20 billion to $29.6 billion
- Nearly 30 banks participated, over 60% from China
- Most funds earmarked for AI and data centers
- Unsecured loan, coordinated by Citigroup and JPMorgan
- Three-year term with two-year extension option
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