China-headquartered ByteDance, guardian of fashionable social media app TikTok, plans to take a position round MYR10 billion ($2.13 billion) to arrange a synthetic intelligence (AI) hub in Malaysia, the nation’s commerce minister mentioned on Friday.
In a put up on social media platform X, Funding, Commerce and Trade Minister Zafrul Abdul Aziz mentioned taking into account future necessities, the corporate additionally plans to broaden the information middle amenities with a further funding of MYR1.5 billion.
This was conveyed to him throughout his assembly with TikTok vice chairman Helena Lersch in Singapore on Friday, in accordance with his put up.
“The extra funding from ByteDance will definitely assist Malaysia in reaching the goal of rising the digital economic system to 22.6 p.c of Malaysia’s Gross Home Product by 2025,” he mentioned.
The plan additionally goals to show Malaysia right into a regional AI hub.
The minister additionally famous that TikTok, by means of ByteDance System Sdn Bhd, has developed a knowledge middle at Sedenak Tech Park in Kulai, Johor.
The announcement additionally comes after funding information into the nation by different tech giants. Final month, it was reported that Google was planning a $2 billion funding to develop its first information middle and Google Cloud area in Malaysia.
One other US-based tech big Microsoft mentioned it’s going to make investments $2.2 billion to broaden cloud and AI providers, in accordance with media reviews.
Google to take a position $2B for information middle and cloud area in Malaysia
