ByteDance is seeking a $20 billion overseas loan, the largest in the company's history.

Media reports quote informed sources as saying that ByteDance Limited is in preliminary talks with multiple banks to raise approximately $20 billion in loans. This financing round may be the largest offshore loan in the company's history, as ByteDance continues to increase its investment in the field of artificial intelligence. The anonymous source stated that the Beijing-based social media giant has approached several banks for this new loan, with an initial loan term of three years that can be extended to five years. The source mentioned that it is currently unclear how ByteDance will use this funding, as negotiations are still in the early stages and specific terms may change.