India’s AI boom gets a massive boost: EQT plans $50 billion push with major Adani data centre bet, says report

India’s push to build AI-ready digital infrastructure is set for a major boost, with Stockholm-based EQT AB planning to spend $50 billion in the country by 2030, including a significant investment in Gautam Adani’s data centre business, Bloomberg reported.

The bulk of the planned spending, about $30 billion, will go into data centres and another $5 billion into renewable energy to power them, Jean Salata, chair of EQT, told reporters in Mumbai on Wednesday. EQT plans to channel the data centre investments through its portfolio company EdgeConneX as it looks to meet rising demand for artificial intelligence compute.

EdgeConneX and AdaniConnex plans

EdgeConneX entered a 50-50 joint venture with Adani Enterprises Ltd. in 2021 to form AdaniConnex. In February, Adani Group said it was planning to invest $100 billion to develop green-powered, AI-ready data centres by 2035.

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Global investors deepen India data centre bets

EQT joins a growing group of global investors such as Blackstone Inc., Brookfield Asset Management Ltd., Warburg Pincus and Bain Capital that are rapidly investing in India’s data centre capabilities. Amazon.com Inc. plans to invest $12.7 billion in cloud infrastructure in India through 2030, while Alphabet Inc. is spending about $15 billion on an AI infrastructure hub in Visakhapatnam.

For EQT, the data centre bets will be combined with green energy investments, including battery energy storage solutions, according to Salata, the Chilean-born billionaire who became chair of global EQT Group in May. He said India represents less than 5% of EQT’s global infrastructure investments and has room to grow.

Last quarter, EQT transferred part of its stake in EdgeConneX into an AI infrastructure fund through an evergreen vehicle, which will hold the assets in perpetuity while allowing investors to buy and sell shares in the entity.

Private equity and broader India strategy

Besides infrastructure, EQT plans to accelerate investments in venture and buyout private equity in India, spending about $15 billion to $20 billion by 2030, Salata said. “India is going to play a disproportionately large role in our strategy going forward just because the sheer size of the opportunity that we’ve been discussing today,” Salata said.

As EQT prepares this $50 billion push in India, the firm also points to its existing presence in the country. EQT has invested $26 billion in India since 1998 across 30 investments, with around $7 billion invested since 2023. Its private equity business has investments in companies such as Indira IVF Hospital Pvt Ltd, Credila Financial Services Ltd and several IT services companies. “AI is definitely disrupting the IT services industry, but it’s also a source of growth right now,” Salata said. Globally, EQT managed €341 billion ($393 billion) in assets as of June 2026.