Shi Yang, the former head of ByteDance's AI coding tool TRAE, has reportedly left the company before the National Day holiday and plans to start an AI office venture with former ByteDance AI data and security chief Fu Yue. According to ChainCatcher, the project has completed its first funding round and is valued at about $200 million, while the company name, funding amount, and investors have not been disclosed.

Shi's LinkedIn profile shows his ByteDance tenure ended in September, and his new role is listed as an undisclosed startup project. He joined ByteDance in 2024 and previously led Doubao MarsCode and TRAE. Fu previously oversaw ByteDance's AI training data business and was reported to have left in August. In August, the TRAE and Coze teams were folded into the Doubao organization, and on October 9, TRAE said it would merge TraeWork and TraeCode into one product.