AirTrunk plans $30B investment in India

AirTrunk, a data center operator backed by Blackstone Inc., plans to invest about $30 billion in India over the next few years to tap the country’s rapidly expanding AI and cloud markets.

The outlay, by 2030, makes India one of AirTrunk’s most significant long-term investment markets, the company said Friday in a statement.

AirTrunk is among global tech companies betting on growth in the country of 1.4 billion people, where rapid digitization and rising popularity of artificial intelligence services are fueling demand for data center capacity. In April, AirTrunk said it was buying Lumina CloudInfra to expand in the world’s most populous country.

“India is taking a top-down approach to AI with clear government-led initiatives, a world-class talent pool and massive availability of renewable energy,” Robin Khuda, AirTrunk’s founder and chief executive officer, said in the statement. “We were bullish on India before entering the market through Lumina.”

AirTrunk also operates data centers in Australia, Hong Kong, Japan, Malaysia and Singapore. Blackstone and Canada Pension Plan Investment Board acquired the company for A$24 billion ($17.1 billion) in 2024. Bloomberg