Thai billionaire Sarath Ratanavadi is betting big on the future of technology. His company, Gulf Energy Development Pcl, is pouring an additional $271 million into expanding a data center facility near Bangkok. This move signals a major shift for the energy giant, as it seeks to capitalize on the booming cloud computing and artificial intelligence (AI) sectors.
The expansion will double the data center’s capacity, anticipating a surge in demand driven by AI adoption and cloud services. This strategic move comes amidst excess electricity generation capacity in Thailand, allowing Gulf Energy to leverage its existing resources.
Ratanavadi, the country’s second-richest person, is diversifying his empire beyond traditional energy. This expansion into data centers suggests technology and related businesses could soon become a significant revenue stream for Gulf Energy.
The company recently partnered with Google Cloud to deliver next-generation sovereign cloud services in Thailand that meet the country’s most stringent data residency, security, and privacy requirements.
This strategic partnership aims to empower organizations in Thailand’s critical industries, particularly those involving sensitive data, such as healthcare, public safety, energy, and utilities, to accelerate their digital transformations with best-in-class AI and analytics capabilities, while offering data, operational, and software sovereignty.
“Our partnership with Google Cloud on Thailand’s first sovereign cloud solution with built-in AI and analytics reinforces Gulf’s commitment to technological leadership and sustainable development,” said Ratanavadi.
While Gulf Energy’s stock price has dropped slightly this year, Ratanavadi’s vision for the future is clear: Thailand’s tech sector is poised for significant growth, and Gulf Energy intends to be a major player.
