ByteDance

In the US, tech platforms have come under intense legal scrutiny for similar features

From Aug 1, the platforms must collect and pass on income tax on sales made by small- and medium-sized sellers

The negotiations show US tech companies are keen to do business with China, even with growing friction over AI chips

The company has long been regarded as a prime initial public offering candidate

The company operates multiple data centre regions in the country, near Beijing and Shanghai

The potential deals demonstrate that efforts by Chinese chipmakers to offer alternatives to foreign AI chips are gaining traction

The name-and-shame campaign marks the latest run-in between the market regulator and e-commerce juggernauts

The surge comes amid the success of ByteDance’s video app, as well as its Doubao AI chatbot

Surging chip prices, prolonged supply shortages have constrained expansion plans