Source: Insider Insiders: Yangtze Memory Technologies Co., Ltd. has reportedly signed a supply agreement worth over $10 billion with ByteDance and Tencent.

According to Recon AI monitoring, Reuters reported, citing sources, that Yangtze Memory Technologies (YMTC) has signed a over $7 billion five-year supply agreement with ByteDance. Previously, YMTC also reached a supply agreement with Tencent for over $3 billion.

The two transactions total over $10 billion. As AI data centers expand rapidly, domestic internet giants are beginning to secure long-term memory supply with large orders.