By Sai Ishwarbharath B

(Reuters) -India’s Tata Consultancy Services and private equity firm TPG will form a joint venture to develop AI data centres, TCS said on Thursday, with both partners set to invest a total of 180 billion rupees ($2.03 billion) in equity.

The capital will be invested in tranches in the JV, called HyperVault AI Data Centre, over the next few years.

The companies also aim to raise $4.5-$5 billion through debt, TCS added, without providing details on the number or location of the planned data centres.

The recent boom in AI, which requires vast amounts of computing data, has fuelled a corporate rush to pour money into the technology globally and has led to an unprecedented growth in data centers across the world.

India’s data centre capacity is expected to more than

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