Adani Group is preparing to put about 5 billion dollars into Google’s upcoming AI hub in Andhra Pradesh, according to CFO Jugeshinder Singh. He said the opportunity is growing fast, and interest isn’t limited to Google. Several other companies are looking to work with Adani as data centre capacity moves toward the 1-gigawatt mark. Singh didn’t spell out the timeline or deeper details yet.
Back in October, Adani Enterprises, through its joint venture AdaniConneX, teamed up with Google to build what’s expected to be India’s biggest AI data centre in Visakhapatnam. Google has already committed 15 billion dollars over five years for that project.
Singh also noted that the group plans to raise 90,000 crore rupees in the next financial year through debt. A little over half of that will come from Indian banks and domestic debt markets, while the rest will come from global lenders. Only a small slice of the domestic portion will be raised through the debt capital market.
For capital spending, the company has set aside 1.5 lakh crore rupees for next year. So far this year, it has raised 80,000 crore through equity and debt and aims to bring in another 44,000 crore before the year closes. Singh said their quarterly fundraising typically lands near the 40,000-crore mark, shifting a bit with seasonal needs.
