Singtel has sold 2.8% of its shares in Thailand's Gulf Development for about $772 million, raising funds for data center and AI expansion. Gigi Onag,Senior Editor, APAC,Light Reading The Singtel Group has divested 2.8% of its shares in Gulf Development, Thailand's largest energy company, for approximately $1 billion Singapore dollars (US$772 million) as the company continues to raise funds for new investments and return money to shareholders.