Universal Music Group, the record label for top music artists including Taylor Swift and Drake, struck a new licensing agreement with TikTok, putting an end to a spat between the two companies.

In a statement Thursday, UMG said the licensing deal would lead to the return of its artists’ music to TikTok.

Earlier this year, TikTok pulled songs from artists signed to UMG after the two sides failed to agree on a new deal over content licensing, sparking a public spat.

Music by artists including Swift and Drake became unavailable on TikTok, which is owned by Chinese internet giant ByteDance. Swift had her music restored on the platform on April 12.

UMG accused TikTok of bullying and intimidation in its contract negotiations and alleged that TikTok proposed paying its artists and songwriters “at a rate that is a fraction of the rate that similarly situated major social platforms pay.” 

At the heart of the spat was the contention that TikTok allowed its platform to undermine artists’ intellectual property with unauthorized AI-generated songs. UMG claimed the social media platform was “flooded with AI-generated recordings.”

UMG and TikTok’s new deal aims to improve remuneration for songwriters and artists, provide promotional opportunities for their recordings, and introduce “industry-leading protections” when it comes to generative AI.

The fresh agreement, “focuses on the value of music, the primacy of human artistry and the welfare of the creative community,” said Lucian Grainge, chairman and CEO of UMG.

“We look forward to collaborating with the team at TikTok to further the interests of our artists and songwriters and drive innovation in fan engagement while advancing social music monetization.”

Shou Zi Chew, TikTok’s CEO, said the platform is “committed to working together to drive value, discovery and promotion for all of UMG’s amazing artists and songwriters.”

TikTok and UMG said they would work to ensure AI development in the music industry protects artists and that they’re sufficiently paid for their material.

TikTok will also work with UMG to remove unauthorized AI-generated music from its platform, as well implement tools to improve artist and songwriter attribution.

Correction: The headline and text of this story have been amended to say that Taylor Swift’s music was restored on TikTok on April 12.

Shares of Chinese electric vehicle maker Nio Inc jumped 20% Thursday after its vehicle deliveries more than doubled in April.

Hong Kong-listed shares of the company jumped as much as 23% to 44.20 Hong Kong dollars, touching their highest level in over six weeks. Nio shares also helped boost the broader Hang Seng index, which jumped 2% by midday trading.

Nio said it delivered 15,620 vehicles in April, a 134.6% year-on-year increase.

“The deliveries consisted of 8,817 premium smart electric SUVs, and 6,803 premium smart electric sedans,” the company said in a statement on Wednesday.

Nio has delivered 45,673 vehicles so far this year, 21.2% higher than the same period a year earlier.

The Chinese EV maker has also been expanding its battery swap partnerships as it seeks to get an edge on the infrastructure side of the EV ecosystem. Efforts like these are aimed at relieving consumers’ anxiety about driving range. 

Other Chinese EV makers including Li Auto, Xpeng, and BYD also reported April deliveries on Wednesday, while Li Auto was the only company to have reported lower deliveries than the previous month.

Li Auto delivered 25,787 vehicles in April, down 11% from March. Hong Kong-listed shares of the company were still 3% higher.

Xpeng said it delivered 9,393 EVs in April, up 4% from the prior month. BYD’s sales volume for EVs was 313,245 in April, up 3.6% from March’s 302,459.

Hong Kong-listed shares of Xpeng jumped 7.5%, while those of BYD added 5%%.

Chinese smartphone maker Xiaomi recently joined the fray, and launched an electric car in early April. The company priced the SU7 at about $4,000 less than Tesla’s Model 3. The company also claimed the new car would have a longer driving range.

Just last week, CEO Lei Jun said its new EV is selling better than expected, and the company hopes to break even sooner than anticipated despite selling it cheaper than Tesla’s Model 3.

— CNBC’s Evelyn Cheng contributed to this story.

Microsoft chairman and CEO Satya Nadella on Wednesday announced “significant commitments” to build a new regional data center in Thailand, among other initiatives, as the U.S. tech giant doubles down on Southeast Asia.

The firm said it will also commit toward AI skills training for over 100,000 people and support local developers, but did not reveal the investment amount.

A day earlier, Nadella said the firm will invest $1.7 billion into Indonesia over the next four years to build new cloud and AI infrastructure.

“Thailand has an incredible opportunity to build a digital-first, AI-powered future,” Nadella said in a statement on Wednesday, adding that the investments will help drive impact and growth in Thailand’s public and private sectors.

Microsoft said there is rising demand for cloud computing services in Thailand from its companies and the commitments will allow the country to tap on economic and productivity opportunities arising from AI.

“Today’s announcement with Microsoft is a significant milestone in the journey of our ‘Ignite Thailand’ vision — one that promises new opportunities for growth, innovation, and prosperity for all Thais,” said Prime Minister of Thailand Srettha Thavisin, in the press release.

Microsoft has been expanding its footprint in Southeast Asia, announcing plans for new regional data centers in Malaysia and Indonesia in 2021. It currently houses its Southeast Asia data center in Singapore.

The AI boom has boosted demand for cloud computing services and data centers, as large amounts of data are required to train AI models and the cloud provides access to vast datasets. Data centers are facilities where data resides.

Microsoft on Tuesday also revealed broader plans to provide AI skilling opportunities to 2.5 million people located in the Association of Southeast Asian Nations — which members include Thailand and Indonesia — by 2025.