ByteDance plans RM10bil investment in Malaysia for AI, says minister

As part of the deal, ByteDance will also expand its data centre facilities in Johor.

KUALA LUMPUR: China’s ByteDance, parent of social media app TikTok, plans to invest around RM10bil to set up an artificial intelligence (AI) hub in Malaysia, according to the country’s trade minister.

ByteDance Ltd is a Chinese Internet technology company headquartered in Haidian, Beijing. As part of the deal, the latest in a number of global tech companies expanding into South-East Asia, ByteDance will also expand its data centre facilities in Johor. This will be done through an additional RM1.5bil investment, Investment Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said.