ByteDance, the parent company of popular social media app TikTok, has announced plans to invest a whopping RM10 billion in setting up an artificial intelligence (AI) hub in Malaysia. This significant investment was revealed by the country’s trade minister, marking a major move for the Chinese Internet technology giant.
Headquartered in Haidian, Beijing, ByteDance is making strides to expand its footprint in South-East Asia by also enhancing its data center facilities in Johor through an additional RM1.5 billion investment. This expansion is part of ByteDance’s strategy to capitalize on the region’s growing digital economy.
The investment by ByteDance is a testament to Malaysia’s appeal as a hub for tech innovation and development. The move is expected to not only boost the country’s digital economy but also create job opportunities and drive technological advancements in the AI sector.
ByteDance’s decision to invest in Malaysia comes amidst a wave of global tech companies eyeing the region for expansion. This move is poised to strengthen Malaysia’s position as a key player in the tech industry and attract further investments in the future.
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