Singtel sells $773 million Thai energy stake as it ramps up AI and data center investments

Singtel, Southeast Asia's largest telecom operator, has sold its 2.8% stake in Gulf Development for around $773 million, marking a strategic move to funnel funds into AI and data center investments. This divestment reflects Singtel's focus on modernizing its technology infrastructure to keep pace with the growing demand for advanced data services. The sale not only provides Singtel with significant capital but also aligns with its broader goal of becoming a leader in digital transformation, particularly in AI and data-intensive applications.