KUALA LUMPUR: Khazanah Nasional Bhd today announced that it is investing in US-based Syntiant Corp to support the set up of an artificial intelligence research and development centre in Malaysia.
Syntiant is an edge AI company based in Irvine, California, known for AI edge deployment.
AI edge deployment refers to the process of deploying AI models and algorithms on edge devices, such as smartphones, internet of things devices, or embedded systems, rather than relying solely on cloud computing.
The centre will drive technological innovation and development, contributing to Malaysia's ambition to move up the semiconductor value chain as well as participate in the growing global AI industry.
"This underscores our commitment to developing an advanced semiconductor ecosystem in Malaysia. By supporting Syntiant's expansion here in Malaysia, we enhance the nation's technological capabilities while creating high-skilled, high-income job opportunities for Malaysians. This effort aligns with our strategic priorities to drive economic and technological advancements in the country," Khazanah managing director Dato' Amirul Feisal Wan Zahir said in a statement.
In the statement Khazanah said it will also invest into the Cambrian Fund, which supports entrepreneurs and small and medium enterprises (SMEs) focusing on IR4.0 technologies.
IR4.0 technologies include machine vision, artificial intelligence and robotics.
Cambrian fund is the brainchild of main-board listed Vitrox Corp Bhd, namely, Chu Jenn Weng, Steven Siaw and Yeoh Shih Hoong; and Singapore-based Southern Capital Group Pte Ltd.
The fund will play a role in transforming the semiconductor and advanced manufacturing ecosystem in Malaysia and beyond by unlocking growth opportunities, nurturing greater local participation and supporting innovative entrepreneurs and SMEs to scale and compete regionally.
The Cambrian Fund achieved a first closing of RM 100 million with Khazanah as one of its anchor investors.
Amirul Feisal Wan Zahir said the Malaysian electrical and electronic (E&E) sector is a key driver of the nation's economy contributing to 40 per cent to the country's export in 2023.
"Through Khazanah's Dana Impak investments, the Cambrian Fund is aligned with the government's efforts in fostering greater growth, innovation, local talent development and integration into the global supply chain while enhancing international market ties and creating opportunities for Malaysian companies to expand globally," he said.
Khazanah said the investments would be made via its initial RM1 billion allocation under its Dana Impak initiative.