Mukesh Ambani’s latest bet shows the data centre market in India is heating up. Ambani’s Reliance Industries will invest up to $122.24 million in building data centres in the country along with Canada-based Brookfield Infrastructure. Reliance will hold a 33.33% stake in each of the Indian units of the JV.
Ambani is not the only deep-pocket tycoon to bet on data centres. AdaniConneX, a 50:50 joint venture between Adani Enterprises and EdgeConneX (ECX), has raised $213 million to finance its under-construction data center portfolio of 67 MW in Noida and Chennai. AdaniConneX is setting sights on becoming one of the three top data centre operators by 2030, while also looking to set up data-processing hubs in UAE, Singapore, Nepal and Thailand.
