Browsing: ByteDance

ByteDance closed a $290M funding round for Anew Labs, its newly spun-off AI drug discovery unit, at a $1.5B valuation, Reuters reports, citing two sources familiar with the matter. Moreover, the company that owns TikTok will retain 56% of the business after this round, according to the same sources. 

Hollywood’s Motion Picture Association (MPA) and ByteDance have struck a global agreement aimed at strengthening intellectual property protections across the tech company’s generative AI video and image models.