TECH
China is buying into TikTok's Brazil data center
Chinese interests are on both sides of the massive data center to be built in Ceará. Photo: Daily Creativity/Shutterstock
The China-LAC Industrial Cooperation Investment Fund (Claifund) is acquiring an indirect stake in what is to become the largest data center ever built in Brazil. The Chinese state fund is partnering with Pátria Investimentos, which will build the data center through its digital infrastructure arm, Omnia DC Holding I.
The facility, which will be leased exclusively to ByteDance, the Chinese tech giant behind TikTok, is budgeted at BRL 11 billion (USD 2.2 billion) for its first phase alone and could draw BRL 200 billion in total investment over a decade, according to Omnia's CEO, Rodrigo Abreu. The transaction has been filed with CADE, Brazil's antitrust regulator, though the precise…
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