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.

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

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

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

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.

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,