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IT HomeOn June 24, according to a report from Bloomberg today citing sources, ByteDance is in preliminary discussions with multiple banks.Seeking an overseas loan of approximately $20 billion (IT Home note: currently equivalent to approximately 136.008 billion yuan based on the current exchange rate), becoming the largest offshore financing project in ByteDance's history.

It is reported that ByteDance has approached multiple banks,A loan facility with a 3-year term is planned., along with an extension option of up to 5 years.

As of now, ByteDance has not responded to a request for comment.

In recent years, ByteDance has rapidly become one of the important investors in the global AI field. The company continues to expand related expenditures and has established partnerships with external parties for AI chip supply, chip design services, etc. If this rumor is true, this funding will provide ample support for ByteDance's AI and cloud computing expansion.

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