ByteDance is placing a big bet on artificial intelligence (AI) infrastructure as the TikTok parent plans to spend more than $12 billion on AI in 2025, the Financial Times reported on Tuesday, citing sources.

TikTok parent ByteDance is asking Chinese employees at its Singapore headquarters to pay tax to their home country or risk losing their ability to cash out on stock options, as Beijing steps up enforcement of its global tax scheme.

TikTok's influence has been greater than its seemingly short-lived demise. The ByteDance-owned app returns after going dark over the weekend.

The privately held technology giant plans to spend about half of the amount abroad on AI-related infrastructure, primarily data centres and networking equipment

YouTuber MrBeast, X owner Elon Musk and Oracle Chairman Larry Ellison are names that have floated around in the past week.

Phones and Android phones with TikTok preinstalled on them are being listed for ridiculous prices on the online marketplace eBay.

At the time of publication, a search for "TikTok phone" produces over 24,000 results, with the lowest "Buy it Now" listing selling for $400 and the highest asking for (checks notes) $4,970,400 million with CapCut, a video editing app also owned by ByteDance pre-installed in addition to TikTok.

ByteDance is exploring a deal to keep TikTok running in the United States without selling its operations there, according to board member Bill Ford.

With no way for users to download TikTok, thousands of eBay sellers have listed phones with the app installed — hoping to capitalize on TikTok’s disappearance from US app stores following a brief ban.

Reich also criticises Trump's executive order to end birthright citizenship - where anyone born in the US becomes a citizen - saying it's a violation of the US constitution: "Decent people could lose their citizenship... children could lose their parents...some parents may not have the right papers."

TikTok was banned in the US due to national security concerns over its Chinese ownership, prompting federal action requiring ByteDance to divest. As suitors are being lined up, the ByteDance-backed app will remain unavailable in Google and Apple app stores in the US.