'TikTok Spending Drove Microsoft's Booming AI Business' - The Information
Portfolio Pulse from Benzinga Newsdesk
TikTok's significant spending has been a major driver behind the growth of Microsoft's AI business, according to The Information. This partnership has led to increased revenues and expansion in Microsoft's AI capabilities.
July 31, 2024 | 1:07 pm
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The growth in Microsoft's AI business due to TikTok's spending may indirectly benefit the Chinese tech sector, as represented by the FXI ETF, which includes companies like TikTok's parent company, ByteDance.
While the primary impact is on Microsoft, the increased collaboration and spending by TikTok, a major Chinese tech company, could have positive indirect effects on the broader Chinese tech sector, as represented by the FXI ETF.
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TikTok's substantial investment in Microsoft's AI services has significantly boosted Microsoft's AI business, leading to increased revenues and expansion in AI capabilities.
The direct investment from TikTok into Microsoft's AI services has led to a notable increase in Microsoft's AI business revenues and capabilities. This partnership is likely to continue driving growth in the short term.
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RELEVANCE 100