Yotta plans an IPO to fund AI infrastructure expansion. The company runs India's largest Nvidia chip cluster.
It expects capacity to hit 400 megawatts soon.
Demand currently outpaces supply.
What happened
Yotta Data Services, which runs India's largest cluster of Nvidia chips, is in talks to list on capital markets "very soon." The IPO could raise up to $900 million, with a target valuation of $6 billion.
Why it matters
The company says demand is growing faster than it can keep up, so it's expanding capacity to 400 megawatts over the next 12 to 18 months. It also has access to $20 billion worth of graphics processing units.
What to watch
Yotta expects dollar-denominated sales to rise to 80% of revenue next year, up from 20% last year. Its CEO says the company is targeting a valuation of $6 billion.
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Yotta's planned IPO comes as it races to expand its AI infrastructure. The company already runs India's largest cluster of Nvidia chips and is now aiming to grow capacity to 400 megawatts, backed by $20 billion worth of GPUs. This scale is necessary because training and running AI models requires huge numbers of advanced processors working simultaneously.
India's massive internet user base and government support for tech initiatives make it a key market for global cloud giants, positioning Yotta to capture international demand. The company's shift toward dollar-denominated revenue—expected to reach 80% next year—reflects this global focus, though it currently earns most of its revenue in rupees.
The IPO could raise up to $900 million at a valuation of $6 billion, giving Yotta the funds to keep pace with demand that Chairman Hiranandani says the company cannot currently meet. The success of this listing may hinge on investors' confidence in the long-term growth of AI infrastructure in India and globally.
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