Indian data center operator Sify Infinit Spaces bets on AI boom but wary of bubble

Sify Infinit Spaces, which is set to become India’s first listed pure-play data center operator, says generative AI workloads are a major driver of demand but warns of potential overbuilding if the hype outpaces sustainable usage. The company, backed by Kotak Private Equity and spun out of early Indian ISP Sify Technologies, operates 14 data centers with 11 more under development and plans a roughly 37 billion rupee IPO, while still relying heavily on hyperscale clients such as Alphabet, Amazon and Microsoft for capacity growth.