Yotta Data Services, India’s largest Nvidia AI chip cluster operator, plans a forthcoming IPO to raise up to $900 million, underpinning its rapid expansion of AI computing capacity amid surging demand.
Yotta Data Services is moving towards an initial public offering as it seeks fresh capital to fund a rapid build-out of artificial intelligence infrastructure. Chairman Darshan Hiranandani told Bloomberg TV that the Mumbai-based company plans to list “very soon” and has the capacity to deploy about $20 billion worth of graphics processing units as demand for AI computing accelerates.
The company, which runs what is described as India’s largest cluster of Nvidia AI chips, is increasing spending to expand its computing resources. Hiranandani said Yotta expects to reach 400 megawatts of capacity over the next 12 to 18 months, a level that would support a much larger AI workload. Data centres require vast numbers of advanced processors to handle calculations in parallel, whether for training models or running them in production.
Yotta has already been broadening its financial base ahead of the listing. According to reports from Kotak Neo, Economic Times and the Hiranandani Group, the company recently raised about $150 million in primary capital from non-institutional investors at a valuation of roughly ₹37,000 crore, or $3.9 billion to $4.4 billion. Those funds were said to be intended for data centre expansion, sovereign cloud capacity and AI infrastructure.
The planned public offering is expected to raise about ₹6,000 crore to ₹8,000 crore, or roughly $700 million to $900 million, with the company preparing to file its draft prospectus in the coming months, according to those reports. Yotta was founded in 2019 and now operates four live hyperscale data centres in India, while also pursuing further expansion in Noida and other locations. Earlier this year, the company announced plans to invest $2 billion in 20,000 Nvidia Blackwell GPUs, underscoring how aggressively it is positioning itself in India’s emerging AI compute market.
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