(Bloomberg) — Vitality billionaire Sarath Ratanavadi, Thailand’s second-richest individual, is accelerating his push into knowledge facilities to faucet a booming market fueled by rising demand for cloud computing and synthetic intelligence.
His vitality firm, Gulf Vitality Growth, and its companions plan to spend a further 10 billion baht ($271 million) to double their outlay on an information middle facility in suburban Bangkok.
The enlargement will enhance the middle’s vitality consumption to 50 megawatts from a beforehand introduced 25 megawatts, with completion anticipated in March, Gulf Vitality Chief Monetary Officer Yupapin Wangviwat instructed reporters final week.
Sarath is increasing his empire into digital banking, cryptocurrency buying and selling, and different expertise companies as electrical energy era in Southeast Asia’s second-biggest financial system has extra capability. Demand for knowledge facilities is rising within the area, with world tech firms spending billions of {dollars} to spur cloud computing and AI companies.
“We set the enlargement of the second part now as a result of we count on a surge in demand for our knowledge middle companies,” Sarath stated on the press convention in Bangkok. “A soar in AI adoption and cloud computing will considerably enhance demand for our knowledge middle bandwidth.”
Expertise and different non-energy companies are anticipated to contribute a “vital proportion” of Gulf Vitality’s income within the close to future, stated Sarath, declining to elaborate. Earlier this week, Gulf Vitality and Alphabet, Inc. held a joint briefing about their cloud computing partnership in Thailand.
