ByteDance launch of next-gen AI video model boosts Chinese tech stocks

TikTok-owner ByteDance launched a pre-release version of its next-generation artificial intelligence video model, Seedance 2.0, on Sunday — a move that boosted shares in several Chinese technology and AI companies on Monday.

ByteDance said the new model offers multi-modal content creation by combining images, video, audio, and text to produce what it described as "cinematic content" with enhanced control via natural language prompts.

According to information on ByteDance's website, Seedance 2.0 can export content in 2K resolution and generates output about 30 percent faster than its predecessor, Seedance 1.5.

Swiss consulting firm CTOL described the model as the "most advanced AI video generation model available", saying in tests it outperformed rival tools such as OpenAI's Sora 2 and Google's Veo 3.1.