At least three of Bytedance Ltd.’s major investors have marked up the TikTok-owner’s valuation to more than $400 billion, a sharp rebound for a Chinese social video leader that has been threatened with a US shutdown.

"We confirmed DeepSeek communicating with ByteDance," a South Korean data protection regulator told Yonhap News Agency.

The valuation marks a substantial increase for ByteDance whose stock exchanged hands at a low point of $275 billion in July 2022