An Indian company is set to build a $2 billion AI hub with Nvidia’s GPUs and go public. Here's what we know so far
#Yotta Data Services #Nvidia GPUs #AI hub #India AI #IPO #Data centers #GPU capacity #AI infrastructure
📌 Key Takeaways
- Yotta Data Services controls 60-70% of India's GPU capacity and is building a $2 billion AI hub
- Demand for GPUs in India is exceeding supply due to local AI startups and global tech firms
- Most Indian AI models are trained on Nvidia GPUs hosted in Yotta's facilities
- Yotta plans a $1.2-$1.5 billion pre-IPO round and aims to list within 12 months
📖 Full Retelling
Yotta Data Services, a Mumbai-based Indian company that controls 60-70% of India's GPU capacity, announced plans to build a $2 billion artificial intelligence hub using Nvidia's graphic processing units on March 14, 2024, as surging demand from local AI startups and global tech firms continues to tighten supply in the rapidly growing Indian AI market. The company revealed that most Indian AI models launched at the recent India AI summit, including Sarvam AI's Indus chatbot, were trained on Nvidia GPUs hosted in Yotta's facilities. This comes as India seeks to catch up with the U.S. and China in developing native AI foundational models and building domestic AI infrastructure. Sunil Gupta, Yotta's co-founder, managing director and CEO, noted that the Mumbai-based data center company began sourcing Nvidia GPUs in 2023 and has quickly established dominance in India's GPU market. As global AI giants like OpenAI, Google, and Perplexity expand their user base in India, Yotta anticipates increased demand for local data centers and GPU capacity. The company plans to fund additional GPU purchases through a $1.2 billion to $1.5 billion pre-IPO round and aims to list within the next 12 months. India's data center market is projected to grow significantly, with total capacity expected to nearly double from 1.93 gigawatt in 2025 to 4 gigawatt by 2028, according to a Nomura report.
🏷️ Themes
AI infrastructure development, Global tech expansion in India, GPU market growth
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In this article NVDA Follow your favorite stocks CREATE FREE ACCOUNT Nvidia H100 chips inside a server room at the Yotta Data Services Pvt. data center, in Navi Mumbai, India, March 14, 2024. Dhiraj Singh | Bloomberg | Getty Images India's Yotta Data Services, which is building a $2 billion artificial intelligence hub using Nvidia 's chips, said demand for graphic processing units in the country is exceeding supply as domestic AI models prepare to scale and the local user base surges. At present, India trails the U.S. and China in the race to develop a native AI foundational model and lacks large domestic AI infrastructure. That is beginning to shift. Last week, during the India AI summit, a few Indian companies launched early or limited versions of their AI models, such as Sarvam AI's Indus chatbot. "We're gradually rolling out Indus on a limited compute capacity, so you may hit a waitlist at first. We will expand access over time," Pratyush Kumar, co-founder of Sarvam AI , said in a post on X. Most Indian AI models launched at the AI summit were trained on Nvidia's GPUs hosted in Yotta's facilities, Sunil Gupta, co-founder, managing director and CEO of the company told CNBC's Inside India on Thursday. The Mumbai-based data center company, which began sourcing Nvidia GPUs in 2023, now owns 60% to 70% of India's GPU capacity, Gupta said. He added that demand is also expected to come from global AI companies as their user base in India expands. watch now VIDEO 5:30 05:30 NVIDIA-powered Yotta talks India opportunity, challenges, IPO Inside India Push for more data centers In recent months, U.S. tech majors such as OpenAI, Google , and Perplexity have offered their AI tools at low or no cost to millions of users in India. Among hyperscalers, Google has firmed up its plans to invest $15 billion to build a data center hub in southern India , while Microsoft will invest $17.5 billion to expand its data center footprint. Last week, OpenAI became the first customer of India...
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