New Delhi, Feb 17, 2026 — India’s artificial intelligence ambitions received a major boost on Wednesday after Yotta Data Services announced it will spend more than $2 billion on Nvidia’s latest AI chips to build a large-scale computing hub, as the company prepares to list its shares.
Yotta is also seeking to raise up to $1.2 billion from investors to fund expansion ahead of a potential initial public offering that could take place as soon as this year, Chief Executive Sunil Gupta told Reuters on the sidelines of the India AI Impact Summit in New Delhi.
Gupta did not provide further details of the fundraising plans.
India, which is still behind the United States and China in advanced AI development, has been positioning itself as a major destination for global datacentre investment. Its large population and growing developer community have helped attract nearly $70 billion in investments from companies such as Microsoft and Alphabet, according to the report.
The announcement comes as tighter U.S. export controls have reshaped global supply chains for advanced AI chips, encouraging companies to strengthen partnerships in fast-growing markets like India.
Yotta said it will deploy more than 20,000 Nvidia Blackwell Ultra chips by August. Nvidia will use half of the chips over a four-year period for its DGX AI cloud service, which is used by major Indian IT firms including Tata Consultancy Services and Infosys.
Yotta, backed by Indian billionaire Niranjan Hiranandani’s real estate group, is one of Nvidia’s partner firms in India and currently operates three datacentre campuses in Mumbai, Gujarat, and near New Delhi.
The company’s new AI supercluster will be deployed in New Delhi, with additional capacity coming from its facility in Mumbai.
A source familiar with the matter told Reuters that Abu Dhabi sovereign wealth fund Mubadala was in discussions to invest in Yotta during the pre-IPO phase.
Yotta declined to comment on potential investors, while Mubadala did not immediately respond to a request for comment.