India's Yotta Data Services is set to invest over $2 billion in Nvidia's latest chips to establish a major artificial intelligence computing hub. This move significantly bolsters the country's burgeoning AI sector as Yotta prepares for its initial public offering. CEO Sunil Gupta indicated the company aims to raise up to $1.2 billion from investors for expansion, with the IPO potentially occurring this year.
India, aiming to close the gap with AI leaders like the US and China, is actively positioning itself as a prime location for global datacenter companies. Its large population and extensive developer community offer a strong foundation for profitable AI investments, attracting nearly $70 billion from tech giants such as Microsoft and Alphabet.
The investment also arrives amid evolving US export controls impacting global AI chip supply chains. These controls are prompting deeper collaborations in markets like India. Yotta expects to deploy more than 20,000 Nvidia Blackwell Ultra chips by August. A portion of these will support Nvidia's DGX AI cloud service, utilized by major Indian IT firms including Tata Consultancy Services and Infosys.
Yotta, supported by Indian real estate group Hiranandani, operates three datacenter campuses in Mumbai, Gujarat, and near New Delhi. The new AI supercluster will be based in New Delhi, with supplementary capacity from its Mumbai facility.