Tracxn’s recent report reveals that Singapore has emerged as the primary hub for artificial intelligence (AI) infrastructure investment in Southeast Asia, capturing nearly 99% of the $1.2b disclosed funding between 2015 and 2026. The report highlights a significant concentration of capital in Singapore, attributed to its robust financial infrastructure and supportive regulatory environment.
The report, titled “SEA AI Infrastructure Report,” outlines the evolution of AI infrastructure funding across the region, noting a sharp increase in early-stage investments from 2023 to 2025. In 2024 alone, $614m was raised across seven rounds, with two early-stage deals accounting for 99% of the year’s total funding. Despite a decline in total capital in 2025 to $320m, the number of deals reached an all-time high of 11, indicating increased participation with smaller cheque sizes.
MiniMax, a Singapore-based company, stands out as the top equity-funded entity, identified as a potential IPO candidate. Other notable companies include Bifrost, specialising in dataset solutions, and Aethir, focusing on decentralised GPU cloud services.
Whilst Malaysia recorded a modest $1.5m in early-stage funding, Indonesia and Thailand reported no disclosed investments. However, these markets are expected to attract future investments as AI adoption expands and domestic cloud infrastructure develops.
The report also notes two acquisitions in 2025, both involving Singapore-based companies, signalling early consolidation in the sector. As the AI infrastructure landscape continues to mature, the focus will likely shift towards broader regional participation and increased late-stage funding opportunities.
