Canadian pension giant joins race to fund India’s AI-fueled data center boom
Key takeaways
- CPP Investments will own 48% of the joint venture, while CtrlS will hold the remaining 52%, the companies said in a joint statement.
- Founded in 2007, CtrlS operates more than 15 data centers across India.
- India has become a major destination for data center and AI investments as global technology companies and investors ramp up spending to meet surging computing demand.
Why this matters: a development in AI with implications for how people work, create, and decide.
As global investors race to fund the infrastructure underpinning the artificial-intelligence boom, Canada Pension Plan Investment Board s CPP Investments has committed up to ₹70 billion (about $741 million) to Indian data center operator Ctrl S, betting on India s growing role in the global buildout of cloud and AI infrastructure.
Under the partnership announced on Wednesday, CPP Investments will invest ₹40 billion (around $423 million) to acquire an 8.2% stake in Ctrl S and commit up to ₹30 billion (about $317 million) to a joint venture to develop hyperscale data center campuses across India.
CPP Investments will own 48% of the joint venture, while CtrlS will hold the remaining 52%, the companies said in a joint statement.