The move comes as major conglomerates like Reliance and Adani increase investments in the sector, positioning India as an emerging hub for AI development despite limited chip manufacturing capabilities.
| Photo Credit:
BIJOY GHOSH
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. U.S. 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.
Published on March 30, 2026
