According to CoinMeta, a Thai company True Internet Data Center ( True IDC ) is seeking a loan of approximately $2 billion to build new facilities in order to promote the country to become a regional hub for artificial intelligence and cloud computing services. The loan will be divided into three parts: about $1.8 billion in US dollars, and two additional parts denominated in Thai baht. The proceeds from this loan will be used to build a new data center in the suburbs of Bangkok, with a loan term that could extend up to five years. The loan plan proposed by True IDC comes at a time when Thailand is seeking to attract billions of dollars in investment for artificial intelligence infrastructure and hyperscale data centers. In May of this year, Thailand approved investment projects totaling 958 billion Thai baht (about $29 billion), which included the data infrastructure expansion projects planned by TikTok System (Thai) company. Other technology giants investing in Thailand include Alphabet, Amazon, and Microsoft.