MALAYSIA, 10/06/2024 (Asia News Channels) - ByteDance, the owner of TikTok, announced plans to invest RM10 billion in artificial intelligence (AI) initiatives to establish Malaysia as a regional AI hub. This announcement was made during a meeting between TikTok Vice President Helena Lersch and Malaysia’s Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz in Singapore.
In a post on X (formerly Twitter), Tengku Zafrul highlighted the potential benefits of ByteDance's investment, stating, "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.”
ByteDance, through its subsidiary ByteDance System Sdn Bhd, has already developed a data center at Sedenak Tech Park in Kulai, Johor. The company plans to expand this facility with an additional RM1.5 billion investment to meet future demands.
This substantial investment underscores ByteDance's commitment to leveraging AI technology and supporting Malaysia’s ambitions in the digital economy.
-- ASIA NEWS CHANNELS