ByteDance says not aware of $5 billion education fund in TikTok deal

Topics TikTok | ByteDance | Oracle

The company has been committed to investing in the education field.

NINGBO, China (Reuters) - TikTok owner Bytedance said in a social media post on Sunday that it was the first time it had heard in the news it was setting up a $5 billion education fund in the United States.

U.S. President Donald Trump said he had approved a deal, which included a $5 billion education fund, to allow TikTok to continue to operate in the United States.

"The company has been committed to investing in the education field, and plans to work with partners and global shareholders to launch online classroom projects based on AI and video technology for students around the world," ByteDance said on its official account on Toutiao.

 

 

(Reporting by Shivani Singh in Ningbo and Sophie Yu in Beijing; Editing by Jacqueline Wong)


(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


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