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.
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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.
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