Bytedance plans $2.1b investment to set up AI hub in Malaysia

Bytedance plans $2.1b investment to set up AI hub in Malaysia

FILE PHOTO: The ByteDance logo is seen at the company's office building in Shanghai, China, July 4, 2023. REUTERS/Aly Song

China’s ByteDance, parent of social media app TikTok, plans to invest around 10 billion ringgit ($2.13 billion) to set up an artificial intelligence hub in Malaysia, the country’s trade minister said on Friday.