One of the Biggest AI Boomtowns Is Rising in a Tech-Industry Backwater
Kanebridge News
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One of the Biggest AI Boomtowns Is Rising in a Tech-Industry Backwater

Blackstone and TikTok’s parent are among those investing in data centers in Malaysia’s Johor, known for palm-oil plantations

By STU WOO
Tue, Oct 8, 2024 8:37amGrey Clock 4 min

ISKANDAR PUTERI, Malaysia— Gary Goh was the chief executive of a publicly listed property developer three years ago when prospective clients started asking whether his company had land for data centres.

Goh was vaguely aware that technology companies needed computer centres to manage heaps of data, but he had never seen such a building. “I didn’t know whether it was round, was it a rectangle, was it a triangle?” he said.

But after the 10th inquiry, Goh realised the tech industry was about to spend billions of dollars on data centres in his sleepy corner of Malaysia. So he quit his job to cash in.

Nowhere else on Earth has been physically reshaped by artificial intelligence as quickly as the Malaysian state of Johor. Three years ago, this region next to Singapore was a tech-industry backwater. Palm-oil plantations dotted the wetlands. Now rising next to those tropical trees 100 miles from the equator are cavernous rectangular buildings that, all together, make up one of the world’s biggest AI construction projects.

TikTok’s Chinese parent company, ByteDance , is spending $350 million on data centres in Johor. Microsoft just bought a 123-acre plot not far away for $95 million. Asset manager Blackstone recently paid $16 billion to buy AirTrunk , a data-centre operator with Asia-wide locations including a Johor facility spanning an area the size of 19 football fields. Oracle last week announced a $6.5 billion investment in Malaysia’s data-centre sector, though it didn’t specify where.

In all, investments in data centres in Johor, which can be used for both AI and more conventional cloud computing, will reach $3.8 billion this year, estimates regional bank Maybank.

“At first glance, Johor seems unlikely, but once you double click on it, it makes a lot of sense,” said Peng Wei Tan, a Blackstone senior managing director who helped lead its acquisition of AirTrunk.

To understand how one of the first boomtowns of the AI era sprouted at the southern tip of the Malay Peninsula, consider the infrastructure behind AI.

Tech giants want to train chatbots, driverless cars and other AI technology as quickly as possible. They do so in data centres with thousands of computer chips, which require a lot of power, as well as water for cooling.

Northern Virginia became the world’s biggest data-centre market because of available power, water and land. But supply is running low. Tech companies can’t build data centres fast enough in the U.S. alone.

Enter Johor. It has plentiful land and power—largely from coal—and enough water. Malaysia enjoys generally friendly relations with the U.S. and China, reducing political risk for companies from the rival nations.

The other important factor: location. Across the border is Singapore, which has one of the world’s densest intersections of undersea internet cables. Those are modern-age highways, enabling tech companies to sling mountains of data around the world.

“This Johor development isn’t for serving just Malaysia,” said Rangu Salgame , chief executive of Princeton Digital Group, a data-centre operator that counts some of the world’s biggest tech companies as clients. “This is AI being deployed globally.”

Working with government

Salgame said companies previously built data centres in Singapore because of its interconnectivity. But in 2019, the tiny and densely populated island nation put a moratorium on new centres because of energy constraints. So data-centre operators did the next best thing, which was to go an hour across the bridge.

While Amazon , Google, Meta and other tech giants run their own data centres, they also rely on third-party data-centre operators for 30% of their needs in the U.S. and about 90% of their needs internationally, Salgame said.

The third parties construct data centres, which cost $1 billion to $2 billion each. Tech companies act as tenants, installing their own hardware inside. Most Johor data centres are run by third parties, which don’t necessarily have agreements with tech clients before starting projects.

“We’re going in speculatively,” Salgame said.

Salgame said he gets insights from big tech companies before beginning projects, so he has a sense of what they want. And the sense now is they want Johor.

Salgame predicts that the Malaysian state will become the world’s second-biggest data-center market within five years. “I’ve never seen anywhere in the world come up at this speed,” he said.

The industry measures data-centre markets by the electricity they use. Northern Virginia has about 4.2 gigawatts active and an additional 11.4 gigawatts under construction, committed or in early stages, said Vivian Wong , an analyst at research firm DC Byte.

Johor, after having less than 10 megawatts—or 0.01 gigawatts—three years ago, now has 0.34 gigawatt active and an additional 2.6 gigawatts under construction, committed or in early stages.

Help from government

Government officials have mostly encouraged the investments, streamlining the permitting process. Salgame said his company’s Johor center was proposed, constructed and operating within 15 months.

But the mayor of Johor Bahru, the state capital, said the government must balance economic benefits with local needs. He said it should consider building desalination plants, among other things, to ensure locals have enough water. The area has faced shortages.

“We know that people are too hyped about data centres,” said the mayor, Mohd Noorazam Osman, at a recent conference.

After quitting his property-development job, the 40-year-old Goh started consulting for potential land buyers and sellers. His specialty was knowing which sites among the plantations and swamps could be easily converted into data centres.

He found success in the Johor city of Iskandar Puteri, where telecom carriers recently broke ground on a 42-acre lot across the street from a McDonald’s. The site isn’t perfect. A hill needs to be flattened before further construction occurs.

But on a recent sweltering day, Goh pointed at the power lines and light-blue water pipes running through the lot, signifying easy access to electricity and water. “These conditions are hard to come by,” he said.



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Australia’s Top 10 Finance Influencers of 2026

The voices reshaping how Australians think about money — and why credibility matters more than reach.

By Kanebridge News Editorial
Mon, Aug 3, 2026 6 min

The best financial advice many Australians are receiving right now is not coming from licensed advisers charging by the hour. It is coming through a phone screen, in the ten minutes between work and dinner, from creators who have built credibility the hard way: by being right, being transparent, and being specific in a space where vagueness has always been the easy default.

This is not a ranking by follower count. Follower count is a measure of distribution, not of quality. What follows is a ranking by substance — credentials, accuracy, community depth, and the quality of what an audience actually learns from following these accounts. The distinction matters, because the Australians acting on this content are making real financial decisions with real money.

1- Queenie Tan – Corporate Authorised Representative; Co-Founder & Director, Invest With Queenie & Billroo

There are finance influencers who talk about building wealth, and there are those who document it in real time with receipts. Queenie Tan belongs firmly in the second category. Starting from a $400-per-week income, Tan built her net worth past $1 million while publishing the actual numbers — income, savings rate, investment decisions — for an audience of more than 400,000 across platforms.

She is a Corporate Authorised Representative, co-founder of the personal finance app Billroo, and the author of a book that has become a practical reference for young Australians navigating ETFs, superannuation and property. What separates her from the crowded field of money educators is precision: she does not talk in principles when she can talk in percentages.

Photo: @investwithqueenie

2- Alan Kohler – Editor-in-Chief, Eureka Report; Editor-in-Chief, InvestSMART Group; ABC News finance presenter, host of Inside Business.

If Queenie Tan represents the new wave of personal finance creators, Alan Kohler represents something the new wave will spend decades trying to build: institutional credibility that has survived multiple economic cycles. As Editor-in-Chief of the Eureka Report and InvestSMART Group, and a decades-long presence on ABC News, Kohler has spent more than thirty years making financial analysis accessible without dumbing it down.

His coverage of RBA decisions, market movements and economic policy is cited by podcasters, journalists and fund managers alike. He is not chasing virality. He does not need to.

Photo: Alan Kohler

3- Aleks Nikolic – Corporate lawyer; host, Big Swinging Stocks podcast

Most finance creators address the mechanics of money. Aleks Nikolic addresses the psychology — and that distinction explains why her following is as loyal as it is. Operating as Broke Girl Wealth across Instagram, TikTok and YouTube, Nikolic covers ETFs, crypto and investment strategy, but her real differentiator is a willingness to discuss the emotional architecture of financial decision-making.

Shame around debt. Fear around market volatility. The limiting beliefs that stop people acting on what they already know. In a space where confidence is routinely performed, her candour is a genuine competitive advantage.

Photo: @brokegirlwealth

4- Bryce Leske & Alec Renehan – Equity Mates Media

Equity Mates did not build a following. They built a media company. What began as a podcast by two friends learning to invest has grown into Australia’s most established investing media brand, covering ASX stocks, ETFs, global markets and fund manager interviews across podcast, social and YouTube.

The longevity is the credential. Equity Mates has operated through multiple market cycles, a global pandemic, and a generational shift in how Australians engage with investing — and its audience has grown through all of it. When the hosts speak, their listeners know they have been paying attention for years.

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5- The Lazy CEO – CEO & Founder, Showpo; Shark Tank Australia investor

The metric that matters most on social media is not followers — it is engagement, because engagement signals trust. Jane Lu, known as The Lazy CEO, maintains an engagement rate of approximately 1.15 per cent on Instagram, which is exceptional for a finance account of his size. Her 242,000-plus followers are not passive consumers: they ask questions, share experiences and apply what they read.

Her content focuses on business finance and wealth building, and the active comment sections are the clearest possible evidence that her audience does not merely scroll past.

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6- Tash Invests – Founder, Tash Lends; Forbes Australia 30 Under 30

Tash Invests built her following on a premise that sounds simple but is rarer in practice than it should be: she publishes the actual numbers. Not approximations or ranges or anonymised case studies — her salary, her savings rate, her portfolio value, her net worth, updated and on the record.

Having bought her first property at twenty-two and grown her documented net worth past $1 million, she has become the primary reference point for young Australians trying to understand what building wealth on a moderate income genuinely looks like. The specificity is the product.

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7- David Scutt – APAC Market Analyst at StoneX Group

The authority of most finance social media content rests on research and reading. David Scutt‘s authority rests on having done the job. A former Treasury Dealer at Arab Bank and the Commonwealth Bank, former ASX Business Supervisor, and former Global Markets Editor at Business Insider Australia and anchor at ausbiz TV, Scutt now brings that direct market experience to his role as APAC Market Analyst at StoneX Group, rather than relying on secondary commentary.

When he discusses foreign exchange movements or ASX dynamics, it is not because he has read about them. It is because he has traded them.

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8- Meddy Demars – Investing & crypto content creator

The gap Meddy Demars fills is specific and underserviced: connecting global macroeconomic events to the practical reality of Australian investors. When the US Federal Reserve adjusts interest rates, when inflation data moves, when commodity prices shift — most Australian finance content either ignores the local implications or translates them poorly.

Demars, operating across TikTok and Instagram from Sydney, does the translation well: explaining what global conditions mean for Australian stocks, savings rates and investment portfolios in terms that are accessible without being condescending.

Photo: Meddy Demars

9- Simran Kaur – Founder, Friends That Invest

Friends That Invest is arguably the most successful community-building exercise in Australian personal finance, and Simran Kaur is the reason why. The New Zealand-based creator — whose audience is predominantly Australian — built a podcast, a book and a social media presence around a single insight: that the personal finance world was not speaking to young women, and that the consequences of that gap were significant.

The measurable cultural shift that followed — women engaging with investing concepts in communities that had not previously existed — is the kind of impact that most financial literacy programmes aim for and rarely achieve.

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10- Effie Zahos – Money Editor at 9News

Effie Zahos is one of Australia’s most recognised financial commentators, appearing regularly across 9News, A Current Affair, Today and Today Extra as 9News Money Editor. Her role puts everyday money questions, from mortgage rates to cost-of-living pressures, in front of a national broadcast audience.

Before television, she spent years as editor of Money magazine, building the editorial foundation for her current commentary. She is also Director and Money Commentator at InvestSMART, an ambassador for Canstar, and a published author, with her financial advice available in print as well as on screen.

That combination, decades of editorial experience, an active broadcast presence, and a body of published work, is what makes her commentary carry weight beyond any single platform or post.

Photo: @effiezahos

The common thread across this list is not follower count or platform presence. It is that each creator has built an audience willing to act on what they say, and for the Australians making financial decisions off the back of this content, that trust is the only thing that actually matters.

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