ByteDance’s proposed $6 billion share repurchase at a $400 billion valuation, disclosed November 13, 2026, supplies the clearest near-term benchmark for traders. The tender price of $241.35 per share reflects a 20% step-up from last year’s round and follows a steady climb from roughly $268 billion in late 2023, supported by robust advertising revenue and Doubao AI momentum. First-half 2026 net profit of about $20 billion declined modestly as AI infrastructure spending rose, while select secondary transactions have cleared closer to $480 billion. With resolution due by November 30, market-implied odds will hinge on any immediate shifts in Nasdaq Private Market quotes or liquidity in secondary shares before the window closes.