Blackstone Inc. CEO Stephen Schwarzman announces that the company is set to invest $11 billion in data centers in India to meet the increasing demand for artificial intelligence (AI) and cloud computing services.

Schwarzman stressed on the rapid growth prospect of AI over the next decade and the need for data centers to support this expansion. He highlighted that the progress in AI will demand increased data center capacity, explaining that foundational AI technologies rely completely on the computational power provided by such centers.

Corresponding to this vision, Schwarzman foresees significant investments in data center construction, projecting $1 trillion in the US and another trillion globally over the next five years.

After strategically acquiring AirTrunk and QTS, Blackstone has solidified its status as the world's largest data center provider. The firm has also established Lumina CloudInfra in Mumbai, which is set to provide a hyperscale cloud infrastructure with a planned 600 MW capacity.

Schwarzman glorified India as Blackstone's top-performing market, accrediting its strong growth in political stability, regulatory improvements, and a youthful, tech-savvy population.

Considering the fact that Blackstone has made a significant profit since its entry to the Indian market with a $1 billion investment back in 2005, the firm aims to double its investments in the country to reach $100 billion, asserting its position as the largest foreign company and private equity firm in India.

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The adaptive strategy focused on ownership and control by Blackstone has paved the way for it to prosper despite facing challenges earlier in India. Schwarzman's persistent confidence reflects its dedication to developing firms that improve India's economic landscape, making it a key investment market for the future.