HSBC's private equity arm, HSG, is reportedly preparing a continuation fund that would value ByteDance at up to $370 billion. This strategic move allows existing investors to gain liquidity while providing new capital to support the TikTok parent company's growth without a traditional IPO. Valuing ByteDance at such a monumental figure underscores its dominance in the global social media and AI landscape.

This structure is becoming increasingly popular in private markets, offering flexibility for late-stage tech giants. The deal highlights the immense scale of ByteDance and the confidence major financial institutions have in its long-term value amidst ongoing geopolitical scrutiny.