Goldman-Backed Brazil Data Center Explores Power Supply Options

TikTok has announced plans to invest over $37 billion to build a data center in Brazil's port of Pecém, marking its first major project in Latin America. This investment reflects China's growing ambitions in South America amid ongoing geopolitical tensions with the US.

The latest analysis from Bloomberg highlights a significant lag in the performance of major tech stocks, particularly the so-called Magnificent 7, amidst a broader rebound in the S&P 500. This trend raises concerns about the sustainability of the tech sector's growth, especially as companies like Okta report mixed earnings and adjust profit forecasts. Additionally, TikTok has announced plans to invest over $37 billion in a new data center in Brazil, marking its first major project in Latin America.

ByteDance's TikTok has announced a significant investment of 200 billion reais (approximately $38 billion) to establish a large data center complex in Brazil, reinforcing the country's status as a key player in AI investment in the region.

TikTok, the popular video-sharing platform owned by ByteDance Ltd., has announced plans to invest over $37.7 billion to construct a data center in Brazil's port of Pecém. This initiative marks TikTok's first major project in Latin America, in collaboration with local partners Omnia and Casa dos Ventos.

TikTok, owned by ByteDance Ltd., has announced a significant investment of over 200 billion reais (approximately $37.7 billion) to construct a data center in Brazil, marking its inaugural project in Latin America. This facility will be located in the port of Pecém and is expected to enhance TikTok's operational capabilities in the region.