Skip to main content

TechMediaBreaks – Alphabet Inc. (NASDAQ: GOOGL) to Invest $1 Billion in Thailand’s Digital Infrastructure

Alphabet (NASDAQ: GOOGL, GOOG) has announced plans to invest $1 billion in Thailand to build digital infrastructure, including a new data center. This significant investment is expected to support 14,000 jobs in the country. The new hubs will be located in Bangkok and the industrial area of Chonburi, aiming to meet the growing demand for cloud computing in Southeast Asia.

Ruth Porat, president and chief investment officer of Google and its parent company Alphabet, stated, “These investments will empower Thai businesses, innovators and communities to harness the power of cloud and AI technology.” The details of the investment were revealed following a meeting in Bangkok between Porat and Thai Prime Minister Paetongtarn Shinawatra, who praised the move as evidence that Thailand is becoming a major digital hub in Southeast Asia.

Google’s expansion is projected to add $4 billion to Thailand’s GDP by 2029 and support 14,000 jobs between 2025 and 2029, according to a report from Deloitte. This announcement follows a major push for investment from U.S. tech giants by Shinawatra’s predecessor, Srettha Thavisin, during a trip to New York, where he sought finance from Google, Microsoft and Elon Musk’s Tesla.

Alphabet is currently trading at $164.92 on the NASDAQ. The stock has experienced a slight decline of 0.56%, dropping by $0.93. Today’s trading has seen a low of $164.63 and a high of $169.16. Over the past year, the stock has ranged from a low of $120.21 to a high of $191.75. Alphabet’s market capitalization stands at approximately $2.04 trillion, with a trading volume of 9.28 million shares.

This move by Google comes in the wake of Microsoft’s announcement in May to create Thailand’s first data center region to enhance cloud and artificial intelligence infrastructure. Additionally, other Southeast Asian countries, such as Vietnam, are also vying for U.S. tech investments. Vietnam, for instance, is aiming to move up the value chain from its traditional manufacturing base and recently reported that Musk’s SpaceX plans to invest $1.5 billion in the country.

To view the company’s latest earnings release, visit https://ibn.fm/1vFFk

About Alphabet Inc.

Alphabet is a collection of companies, the largest of which is Google. Larry Page and Sergey Brin founded Google in September 1998 and the company is headquartered in Mountain View, California. Billions of people use its wide range of popular products and platforms each day, like Search, Ads, Chrome, Cloud, YouTube and Android. For more information, visit the company’s website at www.ABC.xyz.

About TechMediaWire

TechMediaWire (“TMW”) is a specialized communications platform with a focus on pioneering public and private companies driving the future of technology. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, TMW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists, and the general public. By cutting through the overload of information in today’s market, TMW brings its clients unparalleled recognition and brand awareness. TMW is where breaking news, insightful content and actionable information converge.

To receive SMS alerts from TechMediaWire, text “TECH” to 888-902-4192 (U.S. Mobile Phones Only)

For more information, please visit https://www.TechMediaWire.com

Please see full terms of use and disclaimers on the TechMediaWire website applicable to all content provided by TMW, wherever published or re-published: https://www.TechMediaWire.com/Disclaimer

TechMediaWire
Los Angeles, CA
www.TechMediaWire.com
310.299.1717 Office
Editor@TechMediaWire.com

TechMediaWire is powered by IBN

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.