BUSINESS

BYTEDANCE PLANS RM10 BLN INVESTMENT IN AI, TO MAKE MALAYSIA REGIONAL HUB

07/06/2024 07:01 PM

KUALA LUMPUR, June 7 (Bernama) -- TikTok owner ByteDance plans to invest in artificial intelligence (AI) and turn Malaysia into a regional AI hub with a proposed investment of about RM10 billion.

In a post on X (formerly Twitter), Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said this was conveyed to him during his meeting with TikTok vice president Helena Lersch in Singapore today.

“The additional investment from ByteDance will certainly help Malaysia in achieving the target of growing the digital economy to 22.6 per cent of Malaysia’s Gross Domestic Product by 2025,” he said.

The minister also noted that TikTok, through ByteDance System Sdn Bhd, has developed a data centre at Sedenak Tech Park in Kulai, Johor.

Taking into consideration future requirements, Tengku Zafrul said, the company also plans to expand the data centre facility with an additional investment of RM1.5 billion.

-- BERNAMA


 

 

 


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