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