ByteDance’s RM10 Billion AI Investment to Make Malaysia the Next Tech Hub

Date:

TikTok Owner ByteDance Plans RM10 Billion Investment on AI, Making Malaysia Regional Hub

ByteDance's RM10 Billion AI Investment to Make Malaysia the Next Tech Hub
ByteDance’s RM10 Billion AI Investment to Make Malaysia the Next Tech Hub

ByteDance Eyes Malaysia for AI Hub Expansion

KUALA LUMPUR (June 7) – ByteDance, the parent company of popular social media platform TikTok, has unveiled plans to invest approximately RM10 billion in artificial intelligence (AI) initiatives, aiming to establish Malaysia as a key regional hub for AI development.

The announcement was made following a meeting between Investment, Trade, and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz and TikTok Vice President Helena Lersch in Singapore.

Minister Zafrul expressed his enthusiasm for the potential impact of ByteDance’s investment, stating that it aligns with Malaysia’s ambition to boost its digital economy, targeting a growth rate of 22.6% of the country’s Gross Domestic Product by 2025.

Additionally, ByteDance has already made strides in establishing a presence in Malaysia, notably with the development of a data center at Sedenak Tech Park in Kulai, Johor, through its subsidiary, ByteDance System Sdn Bhd.

Looking ahead, Minister Zafrul revealed that ByteDance plans to further enhance its data center capabilities by investing an additional RM1.5 billion, reflecting the company’s commitment to supporting Malaysia’s digital infrastructure.

The proposed investment by ByteDance signifies a significant step towards solidifying Malaysia’s position as a burgeoning technology hub within the region, bolstering its attractiveness for tech talent and investment opportunities.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Popular

More like this
Related

SMK Baru Bintulu Triumphs at National Youth Forum Competition in Kuala Lumpur

Sarawak's SMK Baru Bintulu Shines at National Youth Forum...

Discover the Power, Technology, and Comfort of the New Isuzu D-Max X-Terrain

IntroductionKUCHING (July 12) – The automotive world has witnessed...

Unifor’s Ambitious Transformation: Aiming to Become a State Department

Unifor to Enhance Role in Safeguarding Religious Harmony in...

Sarawak Police Boost Operations with 71 New Vehicles

Sarawak police receive boost with 71 new vehiclesIntroductionKUCHING (July...