ByteDance to Invest $2.13 Billion in AI Hub in Malaysia
ByteDance, the parent company of TikTok, is set to invest around 10 billion ringgit ($2.13 billion) in establishing an artificial intelligence hub in Malaysia. The country’s trade minister announced this plan, highlighting the significant investment by ByteDance in Southeast Asia.
Expansion Plans in Malaysia
- ByteDance to set up an AI hub in Malaysia with a $2.13 billion investment
- Expansion of data center facilities in Malaysia’s Johor state with an additional 1.5 billion ringgit investment
Boosting Digital Economy
This strategic investment by ByteDance is expected to contribute to Malaysia’s goal of growing the digital economy substantially by 2025. The country aims to increase its digital economy to 22.6% of its GDP, and this move by ByteDance will play a crucial role in achieving that target.
Big Tech Investments in Malaysia
ByteDance’s investment follows similar moves by other tech giants in Malaysia in recent months:
- Google announced a $2 billion investment in developing its first data center and Google Cloud region
- Microsoft revealed plans to invest $2.2 billion in expanding cloud and AI services
Hot Take: Malaysia’s Tech Landscape Gets a Major Boost with ByteDance’s Investment
With ByteDance’s substantial investment in an AI hub and data center facilities, Malaysia’s tech sector is set to experience significant growth. The country’s digital economy ambitions are further supported by this move, showcasing the attractiveness of Malaysia as a tech investment destination. ByteDance’s decision underlines the country’s position as a key player in the Southeast Asian tech scene.
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