AdaniConneX in talks with global banks for $1.5 billion loan: What will the funds finance?
The Adani Group plans to borrow around $1.5 billion in order to finance its data centres, Bloomberg reported citing people familiar with the matter.
AdaniConneX Pvt, which is a joint venture between the conglomerate and data centre operator EdgeConnex, is in talks with lenders like DBS Group Holdings Ltd., First Abu Dhabi Bank PJSC and Mitsubishi UFJ Financial Group Inc. for the offshore facility, Bloomberg reported citing people who asked not to be named.
These sources also revealed that Adani conglomerate is holding discussions with lenders like Natixis SA, ING Bank NV and Societe Generale SA for the latest financing. Discussions are taking place over the pricing and the loan could be for a period of five to seven years, the report revealed.
The conglomerate plans to invest around $100 billion in data centres as well as other digital infra by 2035, as it attempts to build on its sprawling energy business. On the other hand, Reliance is also planning to invest as much as $110 billion over a period of seven years into AI-related infrastructure.
This funding drive comes in the wake of AdaniConneX securing a loan of $800 million for its data centre, with a duration of 18 months.
The push by two of India's biggest conglomerates is fueling a surge as they race to build the computing capacity required for AI and cloud services. The Indian government is expecting that capacity will surge to nearly 8 gigawatts by 2030 from about 1.57 gigawatts in August 2026, while India could draw roughly $200 billion of investment into the sector over the next seven to eight years, Bloomberg reported citing local media.
CoreWeave has entered India by expanding its AI Cloud platform with a collaboration with AdaniConneX, planning a 240-megawatt deployment in Navi Mumbai to bring its purpose-built artificial intelligence cloud infrastructure closer to customers.
Its new CoreWeave entered India by expanding its AI Cloud platform through a collaboration with AdaniConneX, planning a 240-megawatt deployment in Navi Mumbai to bring its purpose-built artificial intelligence cloud infrastructure closer to customers. The agreement also provides an option to double capacity by adding another 240 megawatts at the same location.
The company plans to deploy the NVIDIA Vera Rubin Platform on its cloud systems to support artificial intelligence training, inference, reasoning, and agentic tasks, ANI reports.
"India is becoming one of the most important markets for AI infrastructure globally," said Johnny Blackfield, Chief Growth Officer and President, EMEA & India at OneQode. "Working with AdaniConneX gives us a strong foundation to build at scale in Chennai. We have secured our initial 14 MW deployment and are continuing discussions with AdaniConneX on additional capacity opportunities of up to 114 MW in India as demand grows. The combination of infrastructure, competitive operating costs and room to scale makes India a compelling market for our customers."
With agency inputs
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