"Big Tech is doubling down on investing in India"
Over $50 billion in under 24 hours: Why Big Tech is doubling down on investing in India
Over $50 billion in under 24 hours: Why Big Tech is doubling down on investing in India
Story by Priyanka Salve • 6h
- In under 24 hours, India received investments of more than $50 billion from Amazon and Microsoft.
- Google is investing $15 billion, while AI companies like ChatGPT, Google and Perplexity are offering free access to AI tools for millions of Indians.
- India has abundance of resources for data centers, large talent and digital user pool, and market opportunity.
Big Tech is doubling down on investing billions in India, drawn by its abundance of resources for building data centers, a large talent and digital user pool, and market opportunity.
In under 24 hours, Microsoft and Amazon pledged more than $50 billion toward India's cloud and AI infrastructure, while Intel on Monday announced plans to make chips in the country to capitalize on its growing PC demand and speedy AI adoption.
While India trails the U.S. and China in the race to develop a native AI foundational model, and lacks a large domestic AI infrastructure company, it wants to leverage its expertise in the information technology sector to create and deploy AI applications at enterprise level, also offering Big Tech companies a huge opportunity.
Having a model or computing is not enough for any enterprise to use AI effectively, and it requires companies making application layer and a large talent pool to deploy them, S. Krishnan, secretary at India's Ministry of Electronics and Information Technology, told CNBC.
Stanford University ranks India among the top four countries along with the U.S., China and the UK in the global and national AI vibrancy ranking. GitHub, a community of developers, has ranked India at the top with the global share of 24% of all projects.
India's opportunity lies more in "developing applications" which will be used to drive revenues for AI companies, Krishnan said.
PS
It's JUST started.
Government tailwinds blow strong.
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