ByteDance's TikTok will invest 126.8 billion baht ($3.76 billion) in Thailand in a data hosting service, the Thai investment board said on Wednesday.

BANGKOK -- TikTok will spend 126.8 billion baht ($3.76 billion) to launch a data center project in Thailand, according to the country's investment authorities. The Chinese-owned video content platform plans to provide data hosting functions to affiliate companies, Thailand's Board of Investment (BOI) said Wednesday.

The investment by TikTok Pte., the Singapore-based unit of the Chinese tech giant, has received approval from the Thailand Board of Investment.

TikTok, owned by ByteDance (BDNCE), is set to invest approximately $3.76 billion (126.8 billion baht) in a data hosting project in Thailand, according to the country's investment board. This investment aligns with TikTok's ongoing efforts to expand its operations and improve its technological capabilities,

TikTok Pte. Ltd, the Singaporean unit of China's ByteDance, is set to invest $3.8 billion in "data hosting services" in Thailand.

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, Azernews reports,

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. Mo

ByteDance's TikTok will invest 126.8 billion baht ($3.76 billion) in Thailand in a data hosting service, the Thai investment board said on Wednesday. The Chinese firm's investment was made by its Singapore-based unit and would support activities of affiliated companies,

TikTok will invest 127 billion baht ($3.8 billion) in Thailand in a data hosting service, the Board of Investment said on Wednesday.

TikTok Pte Ltd will support the activities of affiliated companies through its Thai digital infrastructure project.