KUALA LUMPUR: ByteDance, the parent company of TikTok, is poised to invest in artificial intelligence (AI), aiming to transform Malaysia into a regional AI hub with a proposed investment of approximately RM10 billion.
In a statement on X (formerly Twitter), Minister of Investment, Trade, and Industry Tengku Datuk Seri Zafrul Abdul Aziz revealed that this commitment was communicated to him during his meeting with TikTok Vice President Helena Lersch in Singapore today.
"This additional investment by ByteDance is expected to significantly contribute to Malaysia's goal of expanding the digital economy to 22.6 per cent of the country's Gross Domestic Product by 2025," he said.
Tengku Zafrul further highlighted that TikTok, operating through ByteDance System Sdn Bhd, has already established a data centre at the Sedenak Tech Park in Kulai, Johor.
Anticipating future demands, the minister added that the company is also planning to enhance the data centre infrastructure with an additional investment of RM1.5 billion. --BERNAMA