The market valuation of Mukesh Ambani’s flagship company hit the Rs 21 lakh crore mark on Wednesday after its shares climbed 2 per cent.
Reliance News: Indian billionaire Mukesh Ambani, through a joint venture, is set to invest USD 11 billion (Rs 98,000 crore) by 2030 to build 1 Gigawatt data centres in Andhra Pradesh. Digital Connexion, a joint venture between Brookfield, Reliance Industries and US-based Digital Realty, has signed a Memorandum of Understanding (MoU) with the Andhra Pradesh Economic Development Board for making the investment, an official statement said. The AI-native, purpose-built data centres will be spread over 400 acres in Visakhapatnam, the digital infrastructure company said in a statement.
“Digital Connexion…announced an investment of approximately USD 11 billion over a period of five years till 2030 for building 1 Gigawatts state-of-the-art AI-native, purpose-built data centres in Visakhapatnam, Andhra Pradesh across 400 acres of land,” the company statement said.
Second major investment in India
This is the second major investment in India. Last month, Google announced a USD 15 billion investment in Andhra Pradesh for building an artificial intelligence hub comprising data centres as well in Visakhapatnam.
Digital Connexion data centres
“Digital Connexion data centres are purpose-built to support seamless AI workloads empowering hyperscalers and enterprises with future-ready systems, robust substations, redundant power feeds, and rack densities to power the next decade of innovation,” the statement. The company already has a campus in Chennai, and another is being constructed in Mumbai’s Chandivali area. Both are strategically located for low-latency, carrier-neutral connectivity, the statement said.
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Reliance Industries Market Cap
The market valuation of the Ambani flagship company hit the Rs 21 lakh crore mark on Wednesday, November 26, after its shares climbed 2 per cent. On Thursday, RIL market cap stands at Rs 21.15 lakh crore. Its shares closed at Rs 1,564.80 on November 27.
