ByteDance to invest billions in Malaysia for AI center

TapTechNews June 8 news, according to Reuters, on June 7 local time, Malaysia's Minister of Investment, Trade and Industry, Zafrul, said that ByteDance plans to invest approximately 10 billion ringgit (TapTechNews note: currently about 15.456 billion Chinese yuan) to build an artificial intelligence center in Malaysia.

As part of the deal, ByteDance will also invest an additional 1.5 billion ringgit (currently about 2.318 billion Chinese yuan) to expand its data center facilities in Johor, Malaysia. Zafrul said on the social media platform X: There is no doubt that this additional investment by ByteDance will help Malaysia achieve the goal - that by 2025, the digital economy accounts for 22.6% of Malaysia's gross domestic product.

Not only ByteDance, but also many technology giants have made similar large-scale investments in the Malaysian market in recent months. For example, last month, Google announced that it will invest 2 billion US dollars (currently about 14.498 billion Chinese yuan) to develop the local first data center; while Microsoft plans to invest 2.2 billion US dollars (currently about 15.948 billion Chinese yuan) to expand cloud services and the field of artificial intelligence.