TikTok Gets Nod to Invest $3.8 Billion in Thailand Data Project
The TikTok offices in Singapore.
Photographer: Ore Huiying/BloombergThis article is for subscribers only.
Social media platform TikTok won Thai government approval to invest $3.8 billion in data hosting services, as the Southeast Asian country pushes to become a hub for data centers and cloud services.
TikTok Pte. Ltd., the Singaporean unit of Chinese technology giant ByteDance Ltd., will support the activities of affiliated companies through its Thai digital infrastructure project, the Board of Investment said in a statement on Wednesday. TikTok’s services are expected to commence next year.