ByteDance is planning to raise $20 billion, setting a new record for the largest offshore loan.

According to DroneII Beating monitoring, Bloomberg reported citing sources familiar with the matter that ByteDance is in preliminary talks with banks to raise around $20 billion in a syndicated loan. If successful, this would be the largest offshore loan in ByteDance's history.

The loan is expected to be for a duration of 3 years with an option to extend it to 5 years. Currently, the fundraising discussions are in early stages, and specific terms and use of the funds may be adjusted. ByteDance has not responded to inquiries yet.

ByteDance is currently evaluating raising its capital expenditure to as high as $70 billion this year, mainly for expanding data centers and AI infrastructure. If the business and economic environment remains favorable, next year's capital expenditure could rise to $100 billion.

For comparison, the four leading U.S. tech giants - Amazon, Google's parent company Alphabet, Microsoft, and Meta - have a combined capital expenditure plan of up to $725 billion this year, also focusing on AI and data center equipment. SoftBank Group recently secured a $40 billion bridge loan to finance its investment in OpenAI.

The last time ByteDance entered the global loan market was in 2024 when it raised $10.8 billion through over 20 domestic and foreign banks. Over the past year, ByteDance has divested from its gaming and other businesses to raise funds and focus on its core AI and social media ventures.