Asia
TikTok Boosts Thailand Investment Plans to $8.8 Billion
- Social media platform to invest in data-hosting infrastructure
- Company recently won approval for $3.8 billion outlay
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Chinese-owned video platform TikTok pledged to spend $8.8 billion in data center hosting services in Thailand over the next five years, more than doubling an earlier investment target for the Southeast Asian nation.
ByteDance Ltd.’s most valuable service is putting the infrastructure in place to support domestic users, including some 50 million on TikTok alone, Vice President of Public Policy Helena Lersch told Prime Minister Paetongtarn Shinawatra in Bangkok on Friday. She didn’t elaborate on details of the planned investment.