Facebook shares news: Social media platform plans Singapore data centre

Facebook shares could open higher Thursday, after the tech giant announced it will build its new Asian data centre in Singapore.

Facebook shares news: Social media platform plans Singapore data centre

Facebook shares closed lower in the US Wednesday, ahead of news the tech giant is set to build its first Asian-based data centre in Singapore. The custom-built centre will cost the social media firm around $1 trillion and the company said it chose Singapore for a number of reasons, including its business-friendly environment.

Facebook shares ended the US Wednesday trading session down at $167.18. However, the stock is currently a little higher in pre-market activity.

Facebook’s Asian investment

Singapore is described by many as the tech hub of Asia, making it a good location for Facebook’s new data centre.

The tech giant said the building is set to be 11 floors high and to be powered by 100% renewable energy. Facebook also said it was working to “increase the development of new solar resources in Singapore”.

Just like many other tech giants, Facebook is working hard to grow its presence and popularity across Asia. The construction of the 170,000 square-metres data centre, is sure to support that ambition. Particularly as it will create and support hundreds of jobs in the country.

“Singapore is one of the most vibrant and modern technology hubs in Asia,” said Facebook’s global head of engineering and Infrastructure, Jay Parikh. “We're very excited about expanding our data center footprint into Asia, and it becoming part of our highly advanced infrastructure that helps bring Facebook apps and services to you every day,” he added.

Facebook’s Sandberg’s Senate testimony

Separately, Facebook COO Sheryl Sandberg Wednesday answered US lawmakers’ questions at the Senate Intelligence Committee hearing.

Repeating earlier comments from Facebook CEO Mark Zuckerberg, Sandberg told the Senate that Facebook was too slow to respond to threats from ‘bad actors’ to use its platform to interfere with the 2016 US election.

“We were too slow to spot this and too slow to act. That is on us,” she said.

“We’re getting better at finding and stopping our opponents,” Sandberg added.

Top Equities Brokers

0 Brokers added for comparison:
Clear all