Following India’s hosting of a significant AI summit that brought together world leaders and leading industry executives, multinational technology companies have committed to investing hundreds of billions of dollars in AI projects associated with the nation. The spike in pledges coincides with a global race by governments and businesses to increase their AI capabilities. It is anticipated that global hyperscalers like Amazon, Microsoft, Meta, and Alphabet will collectively spend up to $700 billion this year on capital expenditures related to artificial intelligence.
Large-scale plans have been announced by major industrial firms in India. According to reports, Reliance Industries intends to spend $110 billion on data centers and associated infrastructure. In the meantime, the Adani Group has laid out a $100 billion investment plan to construct data centers with an AI concentration over the course of the next ten years. During the meeting, a number of American companies also revealed significant pledges. By the end of the decade, Microsoft plans to have invested $50 billion in AI initiatives throughout the Global South.
To improve AI capabilities in India, OpenAI and chipmaker Advanced Micro Devices established agreements with Tata Group. The Indian AI infrastructure company Neysa raised $600 million in equity capital from US asset management Blackstone. The occasion emphasized India’s goal of becoming a major player in the world of technology. To improve its local supply chain, the nation has authorized semiconductor projects totaling $18 billion. Meanwhile, a trade deal between the US and India is getting closer with the goal of reducing tariffs and fostering economic cooperation.
