ByteDance, the parent company of TikTok, is reportedly planning to invest over $12 billion in AI chips by 2025, doubling its previous investment. This move comes amid U.S. sanctions restricting access to advanced chips. While ByteDance allocated $5.5 billion for domestic chip purchases, it denied the report as false, emphasizing that its AI development budget rumors are inaccurate. The company is also exploring local chip production to decrease dependency on foreign technology.