India’s Yota data services plan to invest $2 billion in Nvidia’s latest chip to create an Artificial Intelligence computing hub, as it prepares to launch its IPO, delivering a boost to the country’s AI drive, according to a Wednesday report.
This is a crucial time for Yotta, as it aims to raise about $1.2 billion from investors ahead of an Initial Public Offering, which could occur as early as this year. Sunil Gupta, CEO of Yotta Data Services, said during the India AI Impact Summit in New Delhi.
India is also following the footsteps of the USA and China in developing AI technology and has stabilised its position as a primary source of talent for global data centre companies, with a large population and developer community that could help turn these investments profitable. This has helped them attract around $70 billion in investment from companies such as Microsoft and Alphabet.
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The investment occurred during strong US export controls that have reshaped global supply chains for advanced AI chips, encouraging companies to strengthen partnerships in markets like India. NVIDIA is forecast to deploy over 20,000 Blackwell Ultra Chips by August. The US company will use half of the chips over four years for its DGX AI cloud service, which Indian IT giants such as Tata Consultancy Services and Infosys have implemented.
