Thailand’s Commerce Minister, Pichai Naripthaphan, said Nvidia Corp. (NVDA, Financials) is scheduled to reveal investment intentions there. CEO Jensen Huang plans to announce December’s visit to Bangkok. Pichai gave this information in a Bloomberg story on Tuesday without specifying the exact amount or scope of the expenditure.
Pichai said that the possible investment from Nvidia may inspire further financing from other industries. According to Bloomberg, Nvidia will join other tech companies like Alphabet Inc. (GOOGL, Financials) and Microsoft Corp. (MSFT, Financials), which have previously made major investments in Southeast Asia.
Taiwan Semiconductor Manufacturing Co., a Taiwanese company, produces Nvidia’s chips; other Taiwanese businesses make AI servers. According to Bloomberg’s report, the corporation is investigating prospects in Vietnam and committing to investments in AI infrastructure in Indonesia and Malaysia.
With firms like Amazon.com Inc. (AMZN, Financials), Google, and Microsoft building data centers, Thailand is hoping to draw digital investment to help revitalize its economywhich has seen multibillion-dollar investments from other industries.
Official statistics from Bloomberg show that in the first nine months of 2024, Thailand’s investment promises rose by 42% to 722.5 billion baht ($21.6 billion). Based on Bloomberg, Pichai claimed fresh investment bids may exceed 1 trillion baht by year’s end.
According to Bloomberg, Thailand is also negotiating trade accords, including possible deals with the United Arab Emirates and the European Union.
Based on Bloomberg’s analysis, exports from Thailandespecially agricultural goods like rice and chickenshould surpass government expectations for the year. According to Bloomberg, September statistics are expected to show an export increase for the third straight month.
This article first appeared on GuruFocus.
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