SemiAnalysis: ByteDance Now Rents ~1/5 of China's 24GW Delivered Data Center Capacity

SemiAnalysis's new China Datacenter Model puts ByteDance at roughly one-fifth of the country's 24GW of delivered data-center capacity, making it the single largest tenant across Chinese wholesale operators and a primary driver of the AI infrastructure boom. ByteDance rents nearly all its footprint rather than owning. The four biggest Chinese hyperscalers — Alibaba, Tencent, Baidu and ByteDance — are on track to spend roughly $100B on 2026 capex, up from ~$50B in 2025, with new build shifting inland under 'Eastern Data, Western Compute' policy.