TikTok owner ByteDance is ramping up its spending on artificial intelligence infrastructure, boosting its planned capital expenditure this year to more than 200 billion yuan (US$30 billion), according to two people familiar with the matter. This represented an increase of at least 25 per cent compared with a preliminary plan discussed late last year that proposed AI capex of 160 billion yuan, they said. The increase was necessary because of the company’s growing commitment to AI, as well as...