Tech giant Oracle on Wednesday said it plans to invest more than $6.5 billion on cloud services data centers in Malaysia, joining a list of US titans rushing to build up their AI infrastructure in Southeast Asia.
The firm said the cloud region would help organizations in the country modernize their applications, migrate their workload to the cloud and innovate with data, analytics and artificial intelligence.
Oracle is working to expand its cloud infrastructure business globally. The company recently projected it will surpass $100 billion in revenue in fiscal 2029, driven by increasing demand for cloud services.
Malaysia's new cloud region will be the firm's third in Southeast Asia, following two facilities in neighboring Singapore.
"Malaysia offers unique growth opportunities for organizations looking to accelerate their expansion with the latest digital technologies," Garrett Ilg, Oracle's executive vice president for Japan and Asia Pacific, said in a statement.
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