India's Bharti Airtel-owned Nxtra Data will raise $1 billion from Alpha Wave Global, Carlyle Global, Anchorage Capital, as well as its parent, in a deal that values the data center firm at about $3.1 billion.
The deal marks the latest in a string of investments that Indian conglomerates Reliance and Adani have announced in recent months in data infrastructure as they position the country as an emerging hub for AI development.
India has played only a limited role in the global AI boom so far because it lacks large-scale chip manufacturing, making data centers its most viable entry point into the fast-growing infrastructure market.
Private equity firm Alpha Wave will lead the fundraise with a $435 million investment, followed by Bharti Airtel's $290 million commitment. US investment firm Carlyle Global, an existing investor, will pump in $240 million, while Anchorage Capital will invest $35 million.
Bharti Airtel, India's second-largest mobile carrier by users, said it will retain its controlling stake in Nxtra.
Nxtra will deploy the funds to scale its infrastructure and expand the services it offers.
The deal marks the latest in a string of investments that Indian conglomerates Reliance and Adani have announced in recent months in data infrastructure as they position the country as an emerging hub for AI development.
India has played only a limited role in the global AI boom so far because it lacks large-scale chip manufacturing, making data centers its most viable entry point into the fast-growing infrastructure market.
Private equity firm Alpha Wave will lead the fundraise with a $435 million investment, followed by Bharti Airtel's $290 million commitment. US investment firm Carlyle Global, an existing investor, will pump in $240 million, while Anchorage Capital will invest $35 million.
Bharti Airtel, India's second-largest mobile carrier by users, said it will retain its controlling stake in Nxtra.
Nxtra will deploy the funds to scale its infrastructure and expand the services it offers.
