Tata Consultancy Services (TCS) said on Thursday it has signed agreements with TPG Terabyte Bidco for an investment of up to ₹18,000 crore in its AI-focused data centre subsidiary HyperVault, as India races to build large-scale infrastructure to meet accelerating artificial intelligence demand.

The investment will be made over the next few years through equity and compulsorily convertible preference shares, with TCS and TPG investing in a 51:49 ratio, the IT major said in a stock exchange filing.

TPG will invest up to ₹8,820 crore and is expected to eventually hold between 27.5% and 49% in HyperVault. The deal was approved by TCS’ investment committee at a meeting on Thursday.

HyperVault will serve as the exclusive vehicle for TCS’ AI and non-AI data centre operations, and aims to buil

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