Looking to take on global cloud and data giants such as Amazon, Google, and Microsoft, Hiranandani family-owned Yotta Data Services is planning an investment push to the tune of Rs 16,000 crore. The company can also take the IPO route for a fund-raise, CEO Sunil Gupta has said. Gupta, who is also the co-founder of Yotta, said the company is planning the investment for expansion of data services using super-computing GPU chips sourced from US tech giant Nvidia.
“The majority of the funds will be used in acquiring the GPUs from Nvidia, and on data centre engineering charges and infrastructure,” Gupta told TOI. At present, Yotta has data centres in Navi Mumbai, Greater Noida and GIFT City in Gujarat. The company began operations in 2019 and has so far invested Rs 4,000 crore. It initially started business by creating mega data centres that were positioned to meet the storage needs for large, medium and smaller enterprises, apart from government entities. With data usage in the country skyrocketing during and after pandemic period, the company has now forayed into public cloud platforms through its Yntraa hyper-scale cloud platform and Nvidia-powered Shakti AI cloud set-up, which enables training of large language models (LLMs) and AI/High Performance Computing workloads. “The government had a focus on Make in India cloud capabilities, and with Yntraa and Shakti we are doing just that. We are matching the global cloud and data providers across features with embedded safety and cyber security assurances,” Gupta said.
Asked about the new investment, he said Nvidia-based Shakti cloud division will itself need Rs 16,000 crore once the company deploys the envisaged 16,000-unit GPU cluster. “At full capacity, this will become Asia’s largest and the world’s eleventh largest super computer in the world.” The initial deployment will be of 4,000 GPUs in Mumbai that will see the company invest around Rs 4,000 crore. The rest of the scale-up in terms of compute capacity and investments will happen progressively after that. “Not just enterprises, even the government wants to source GPU capacity from providers like us.” Gupta said the expansion will be funded by investments from the Hiranandani family (who owns 90% in the venture), global debt, and equity dilution. Asked IPO, he said a public float could be considered on the Indian exchanges, or even abroad. “We have started assessment of the public funds route, and are actively considering it. We hope to complete the process by next year.” Gupta said Yotta is targeting a revenue of $1 billion (over Rs 8,000 crore) by March, 2028. “We expect to achieve net profit by March, 2027.”
[Source: https://www.theweek.in/news/biz-tech/2020/08/27/hiranandani-groups-yotta-infrastructure-to-invest-rs-19000-crore-in-data-centres.html]
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