Cyberport Gets $125M Boost as Hong Kong Expands AI and Web3 Efforts

• Hong Kong invests $125M in AI & Web3 R&D, boosting blockchain and AI skills programs at Cyberport.
• Cyberport’s AI Supercomputing Centre, launching Dec 9, 2024, will deliver 3,000 petaFLOPS for AI and Web3 innovation.
• Hong Kong’s $385.6M AI Subsidy Scheme funds a 3-year push for AI talent and research development.

Hong Kong’s Cyberport allocates $125 million for AI and Web3 research, enhancing blockchain development and AI skills programs. On February 27, Cyberport hosted the forum “AI Safety, Trust, and Responsibility,” gathering global AI academic organizations to discuss AI governance, safety, and responsible innovation

Over 270 blockchain technology companies and over 350 startups specialized in AI and big data research and development are housed at the Cyberport area.

A day earlier, on February 26, the Hong Kong government’s 2025-26 budget emphasized new technology, intending to “seize the critical opportunities presented by technological reform and artificial intelligence development.

Hong Kong Invests in Web3 and AI through the Cyberport hub

The Chinese Special Administrative Region has budgeted 1 billion Hong Kong dollars ($125.5 million) to build the Hong Kong AI Research and Development Institute, Financial Secretary Paul Chan Mo-po revealed during the Hong Kong budget address.

The institution is committed to “facilitating upstream R&D, transforming midstream and downstream R&D outcomes, and expanding application scenarios.”

Cyberport’s Artificial Intelligence Supercomputing Centre (AISC), which will be operational on December 9, 2024, will have a computing capacity of 3,000 petaFLOPS and the ability to handle 3,000 quadrillion floating-point operations per second to drive Web3, blockchain, and AI innovation.

Streamlining AI research and talent development

In addition, one of the AI forum’s co-organizers, the World Digital Technology Academy (WDTA), announced the opening of the “WDTA Asia-Pacific Institute (preparatory)” at Cyberport. 

Yale Li, WDTA’s executive chairman, emphasized the institute’s three key priorities. These include developing a “safety-native” technical foundation, implementing a “human-oriented” value system, and committing to “responsible innovation.”

Cyberport has established various Memorandums of Understanding (MoUs) with educational institutions to offer students internship and job opportunities hence the Hong Kong government has provided Cyberport with $3 billion Hong Kong dollars ($385.6 million) to initiate a three-year AI Subsidy Scheme aimed at promoting innovation

Therefore, Hong Kong’s investment in Cyberport demonstrates its commitment to AI and web3 development. With $125 million set aside for AI research and blockchain innovation, the area is establishing itself as a global leader in technological growth.

The establishment of the AI Research and Development Institute, coupled with the forthcoming Artificial Intelligence Supercomputing Centre, demonstrates a purposeful drive for cutting-edge technologies. 

Furthermore, efforts such as the AI forum and education collaborations demonstrate a proactive attitude to talent development and responsible innovation. As Hong Kong develops its AI and Web3 ecosystems, these initiatives are expected to drive considerable development in the digital economy.