ByteDance Secures $29.6 Billion Loan to Fund AI Expansion
ByteDance, the Chinese company behind TikTok, has secured a massive $29.6 billion loan. The deal is Asia’s second-largest dollar-denominated borrowing this year. The company was initially seeking $20 billion. However, strong interest from banks pushed the facility higher. The deal has not been signed yet. Banks are still confirming their final allocations. The loan will…