ByteDance agrees to sell Moonton to Savvy Games for $6 billion

ByteDance has agreed to sell Moonton to Savvy Games Group for about $6 billion, shifting its focus to generative AI. The Beijing company will keep Moonton’s management and offer staff incentives. Savvy, a subsidiary of Saudi Arabia’s $1 trillion Public Investment Fund, is central to the kingdom’s aggressive push to become a global leader in video games and esports.