TikTok owner ByteDance confirmed on Wednesday that it is developing its own video codec chips to power its video recommendation services. The firm’s vice president, Yang Zhenyuan, confirmed recent media reports that the Chinese tech company was working on chips internally amid global chip shortage but stated that there were “no plans for (the development of) CPU/GPU chips” at this stage. It’s an ambitious move for ByteDance as it steps up from providing software and algorithms to developing video codec chips. [ITHome, in Chinese]