Jun. 9 at 1:07 PM
$GDS $VNET
China to spend
$295B on building data centers across country, Bloomberg says
American depository receipts of Chinese cloud providers GDS Holdings (GDS) and Vnet Group (VNET) rise about 7% and 9% respectively after Bloomberg reported China is preparing to spend
$295B on building data centers across the country, citing people familiar with the matter. Government agencies, such as the National Development and Reform Commission, are currently drafting a blueprint of a network of inter-connected hubs across the country. State firms, including China Mobile and China Telecom, will operate the bulk of the data centers and while local suppliers will supply 80% of the technology, the sources added.
