TikTok owner ByteDance arranges $29.6B loan as it reportedly weighs $70B spending on AI data centers and infrastructure

ByteDance has arranged a $29.6 billion loan with 28 banks participating, according to Bloomberg. The three-year facility can be extended to five years, priced at 0.68 percentage points above the benchmark rate, a spread the report says reflects lenders' high confidence. By comparison, SoftBank's loan was granted at 2.5 percentage points above benchmark. The report comes amid a Bitcoin Suisse forecast that major U.S. hyperscalers will spend over $800 billion this year and more than $1 trillion in 2027. ByteDance and HSBC had not responded to CoinDesk's confirmation request.

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