Tata Consultancy Services (TCS) is reportedly preparing to set up a multi-billion-dollar joint venture (JV) with private equity firm TPG to build a network of artificial intelligence (AI) and sovereign data centres.
The two partners plan to invest about $2 billion in equity in HyperVault AI Data Centre Limited, a wholly owned TCS subsidiary incorporated in October. TCS will hold a 51 per cent stake, making it the majority partner. Another $4.5-$5 billion will be raised through debt as the project scales.
