The Adani Group logo on the facade of its headquarters on the outskirts of Ahmedabad, India, November 21, 2024.
Amit Dave | Reuters
India’s Adani on Tuesday announced plans to invest $100 billion in developing AI-enabled data centers powered by renewable energy by 2035, aiming to create the world’s largest integrated data center platform.
Adani said this major investment, which comes as India seeks to gain a stronger foothold in the global AI race, is expected to create a $250 billion AI infrastructure ecosystem in India over the next 10 years.
The company says the initiative will drive an additional $150 billion in spending across server manufacturing, sovereign cloud platforms, and support industries.
“The world is entering an intelligence revolution more profound than any previous industrial revolution,” Adani Group Chairman Gautam Adani said in a statement.
“India is more than just a consumer in the AI era. We are creators, builders and exporters of intelligence and are proud to be a part of that future,” he added.
The announcement coincided with India’s AI Impact Summit, a five-day event that began on Monday.
Global leaders and technology executives, including OpenAI CEO Sam Altman and Alphabet CEO Sundar Pichai, are expected to attend the summit, which is being touted as the first major international AI conference to be held in the Global South.
shares of Adani EnterprisesThe Adani Group flagship rose 2.3% on the news, making it one of the benchmark’s top gainers. Nifty 50 Stock Index. shares of adani green energy Last time, it rose 1.8%.
strategic partnership
Adani’s AI push is designed to build on AdaniConnex’s existing 2 gigawatt (GW) national data centers, with plans to expand towards a 5 GW goal. According to the company, this implementation will create the world’s largest integrated data center platform.
AdaniConnex is a joint venture between Adani Group and EdgeConnex, a global data center provider.
Adani said the company’s vision is supported by strategic partnerships with: google. The multinational conglomerate added that it is also in talks with other major companies to set up large campuses across India, but did not provide details.
In October, Google’s parent company Alphabet announced it would invest $15 billion over the next five years to build an AI data center hub in southern India.
Share prices of Adani group companies have been volatile in recent weeks.
Indeed, the company’s stock price plummeted after a court filing late last month indicated that the U.S. Securities and Exchange Commission was considering subpoenaing Indian billionaire and Adani Group chairman Gautam Adani and his nephew Sagar Adani on charges of bribery and fraud.
Adani’s chairman was indicted along with seven others in New York federal court in November 2024 on charges related to a massive bribery and fraud scheme. Following this news, CNBC contacted Adani Group and the US SEC.
India’s law ministry twice last year refused to serve subpoenas to Gautam Adani and Sagar Adani under the Hague Convention, the SEC told the court.
— CNBC’s Priyanka Salve contributed to this report.
