Asia-Pacific

“There is a projection that the demand for data centers in Thailand will grow more than 20 percent a year.”

The pricing of the offering, led by Morgan Stanley and Citigroup, values Chindata at about $4.9 billion.

The hope is to ride a wave of investor interest for companies seen to be benefiting from the stay-at-home trend.

The rules would preclude China from forcing its companies to share overseas data and build backdoors, and from using IT to damage critical infrastructure or steal data.

The nixed "Isolated Region" initiative would set up a business sequestered from Google’s existing cloud computing services, including data centers and networks.

The potential transaction could raise about $1 billion for the Shanghai-based developer of hyperscale data centers.

It’s in data centers that a considerable chunk of the new infrastructure development will take place.