Philippines Eyes $10 Billion AI Hub Investment as Iran War Batters Economy

1 articles · Updated · Bloomberg · Jun 11

$10 billion in initial investment could flow into a US-backed artificial intelligence hub in the Philippines, according to the head of the state-owned company developing the project.
Joshua Bingcang said the 4,000-acre site is envisioned as the country's version of Silicon Valley and is meant to attract high-end technology and other corporate investment.
The project is also being pitched as an economic buffer for the Philippines after the Iran war battered the economy, with officials framing the first wave of funding as only a starting point.