Filings: ByteDance-owned entity Picoheart is now the third-largest shareholder in InnoStar, a Chinese state-backed ReRAM chips maker, with a 9.5% stake (Juro Osawa/The Information)

Juro Osawa / The Information:

Filings: ByteDance-owned entity Picoheart is now the third-largest shareholder in InnoStar, a Chinese state-backed ReRAM chips maker, with a 9.5% stake  —  As the Chinese government races to catch up in advanced computer chips, it has found an ally in ByteDance, the owner of TikTok.