India GPU Operator Yotta Eyes IPO After $2B Nvidia Deal

India’s largest GPU operator is preparing for a landmark stock market debut. Yotta Data Services plans a domestic initial public offering after securing a more than $2 billion deployment of advanced chips from Nvidia. The move underscores India’s accelerating race to build sovereign AI infrastructure.

A $2 billion bet on Blackwell

Yotta will deploy 20,736 liquid-cooled Blackwell Ultra GPUs at its 60-megawatt hyperscale facility in Greater Noida. The supercluster is expected to go live by August 2026. Additionally, capacity from Yotta’s Navi Mumbai campus will support the rollout. That site is scalable to 2 gigawatts.

The company announced the project at the India AI Impact Summit in New Delhi on February 18. It marks one of the largest single AI infrastructure investments in the country. Meanwhile, Nvidia will set up one of Asia-Pacific’s largest DGX Cloud clusters inside Yotta’s facilities. The four-year engagement is valued at over $1 billion.

Currently, Yotta operates more than 10,000 Nvidia GPUs in production. Another 8,000 units are set to go live within the next quarter. Therefore, total capacity will rise sharply this year. The company plans to scale beyond 80,000 GPUs by FY27.

IPO plans take shape

Yotta is targeting an IPO in the third or fourth quarter of the current Indian fiscal year. The fiscal year ends in March 2027. CEO Sunil Gupta said demand for GPUs in India now exceeds supply. Local AI models are preparing to scale. As a result, infrastructure providers are seeing strong booking pipelines.

The Hiranandani Group-backed firm had earlier planned a Nasdaq listing. That plan involved a merger with Cartica Acquisition Corp. However, the company withdrew the proposal in late 2025. Management decided to pivot toward Indian markets instead.

Ahead of the listing, Yotta aims to raise up to $1.2 billion in a pre-IPO round. Sovereign and institutional investors are in talks. The capital will fund chip purchases, power upgrades, and cooling systems.

India’s AI infrastructure surge

The timing reflects a broader national push. India wants to become a global AI compute hub. At the same summit, OpenAI announced a partnership with Tata Group. The deal secures 100 megawatts of initial data center capacity through TCS’s HyperVault business. Plans could scale to 1 gigawatt.

India’s total data center capacity is projected to reach 1.93 gigawatts in 2025. It could nearly double to 4 gigawatts by 2028. Meanwhile, technology minister Ashwini Vaishnaw said India aims to attract over $200 billion in AI infrastructure investment within two years.

Turning scale into profits

Yotta controls an estimated 70% of India’s GPU capacity. That dominance offers a strong moat. However, capital intensity remains high. GPUs, power, and cooling require continuous investment. Therefore, public markets could provide durable funding.

“What we have built is around a $1 billion data center and chips combined,” Gupta said previously. “But we will need several billion dollars more.” Consequently, execution and utilization rates will matter after listing.

Why this IPO matters

If successful, Yotta’s IPO could become one of India’s largest AI infrastructure listings. It would also signal investor confidence in sovereign compute. Additionally, it would deepen Nvidia’s footprint in India beyond hyperscalers.

In short, India’s AI buildout is moving from ambition to hardware. Yotta’s $2 billion Nvidia deal places it at the center of that shift. The IPO will test whether scale, demand, and policy tailwinds can translate into sustainable public-market returns.