Abu Dhabi’s G42 acquires $100 million ByteDance stake at $220 billion valuation – Bloomberg News

(Reuters) – Abu Dhabi-based artificial intelligence firm G42 acquired a $100 million plus stake in Tiktok-parent ByteDance, valuing the company at $220 billion, Bloomberg News reported late on Wednesday, citing people with knowledge of the matter.

(Reporting by Rahat Sandhu in Bengaluru; Editing by Rashmi Aich)