TikTok to invest over $57b in Brazil data centre: Bloomberg
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The news: ByteDance’s TikTok is planning to invest over 200 billion reais ($57.24 billion) to build a data centre in Brazil, its first project in the region, Bloomberg reports.
The context: Speaking at an event in the northeastern Brazilian state of Ceará with President Luiz Inacio Lula da Silva on Wednesday, Monica Guise, head of public policy at TikTok Brazil said that the social media giant will partner with data centre developer Omnia and Casa dos Ventos, one of Brazil’s leading renewable energy providers for the project.
Guise said that the project will be developed near the port of Pecém and will rely on clean energy from wind energy parks. Brazil is considered the best-positioned LATAM country to capitalise on the global boom in data-centre investing to power AI given its numerous sources of renewable energy, interconnected national grid, and high-speed fiber optic cables.
“This is a historic investment for the company in Brazil,” she said. “It’s a key step that reflects the company’s commitment with Brazil, one of the most dynamic digital markets in the world.”
After the announcement, Lula, who in September announced incentives for companies looking to build data centres in the country, said: “I’m convinced this data centre will be something extraordinary for the technological development of this country…It could serve as an example for other data centres in other parts of the country.”
The source: Bloomberg
