ByteDance Ltd. is a Chinese internet technology company founded in 2012, with its headquarters in Haidian, Beijing. It is the parent company of the popular video-sharing app TikTok.
According to reports, ByteDance has announced plans to invest $2.13 billion USD to set up an Artificial Intelligence (AI) hub in Malaysia. This investment will be used to expand its data center facilities in Malaysia’s Johor state.
The report further mentions that ByteDance will be the latest global tech company expanding into Southeast Asia as it aims to help Malaysia achieve its target of a growing digital economy to 22.6% of GDP by 2025.
