(Nov 28): The Indian conglomerate, led by billionaire Gautam Adani, is planning to invest as much as US$5 billion ($6.5 billion) in Google’s upcoming AI infrastructure hub in southern India, according to chief financial officer Jugeshinder Singh, showing the steady stream of investments pouring in the fast-growing data centre business.
The details of the investment are still being finalised, Singh told reporters at an event in Mumbai. Adani Enterprises Ltd last month announced a partnership with Alphabet Inc, via AdaniConneX Pvt, to develop India’s largest AI data centre campus at Visakhapatnam in Andhra Pradesh..
The announcement mirrors the global trend where governments and large corporations are spending trillions in an unprecedented AI hardware arms race. Digital Connexion, a joint venture of Reliance Industries Ltd, signed an US$11 billion investment pact for building data centres at Visakhapatnam this week, while Tata Consultancy Services Ltd last week secured US$1 billion from TPG Inc to accelerate its own efforts.
Investments in India’s overall data centre market are expected to exceed US$100 billion by 2027, according to estimates by CBRE Group Inc.
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