Indian IT player Tata Consultancy Services (TCS) has secured SGD 1.31 billion ($1 billion) from global asset management firm TPG to finance the expansion of its HyperVault AI data centre platform.
The partnership will support the IT giant's plan to build AI-ready data centres with capacity exceeding 1GW over the next few years.
The aim is to address the increasing demand from hyperscalers, AI companies, and enterprises.
HyperVault AI Data Center Limited (HyperVault) is a subsidiary of TCS, established to develop large-scale, AI-ready data centres in India.
According to TCS, bringing in TPG as an investment partner will help improve returns to shareholders, reduce capital outlay, and create long-term value for the data centre platform.
TCS and TPG together will invest up to SGD 2.65 billion (INR 18,000 crore) in HyperVault, through a mix of equity and debt.
Out of this, TPG will contribute up to INR 8,820 crore and is expected to hold between 27.5% and 49% in the business.
HyperVault will offer purpose-built, liquid-cooled facilities with high rack densities, energy efficiency, and connectivity across key cloud regions.
The transaction is subject to conditions precedent and regulatory approvals.
