#data-center-investment

#data-center-investment

TikTok, one of the world's most popular social media platforms, announced Wednesday that it will build its first data center in Latin America in Brazil, near the city of Fortaleza. The project represents a $38 billion investment. The Chinese company's supercomputers, which have revolutionized the internet with their short videos that are followed by hundreds of millions of users, will be operational in 2027 and will be powered exclusively by 100% renewable energy, according to a TikTok statement.

US research firm Gartner predicts that IT spending in Europe will increase by 11% to a total of $1.4 trillion in 2026. Growth is expected to be driven by AI, cloud computing and cybersecurity, despite limited IT budgets and few new hires. Spending on generative AI is expected to grow by 78%, while cloud investments will increase by 24% as companies increasingly move services to Europe for sovereignty reasons.

This £3.9 billion investment is a huge win for Britain. It will give businesses - from life sciences to high street banks - the ability to connect to thousands of other businesses across the world in an instant, powering our AI ambitions, boosting growth and creating hundreds of well-paid jobs,