Yotta’s $2 billion Nvidia bet; Skyroot eyes unicorn tag

Happy Wednesday! Yotta is shelling out $2 billion to deploy Nvidia’s latest AI chips at its Noida facility. This and more in today’s ETtech Morning Dispatch.

Also in the letter:
■ Adani’s $100B bet
■ Infy chairman on AI
■ Exponent Energy’s finance venture

Yotta spends $2 billion to deploy top Nvidia chips

Yotta Data Services is pumping $2 billion (Rs 16,600 crore) into Nvidia’s newest AI chips at its hyperscale data centre campus in Noida.

What’s happening? The facility is set to go live by August and will mark the first deployment of Nvidia’s Blackwell B300 GPUs in India. Nvidia will also set up Asia’s first DGX Cloud supercluster at the site, using nearly half the new GPU capacity under a four-year deal worth about $1 billion.

Also Read: TCS, AMD to expand AI partnership to take on Nvidia in India

Quote, unquote: “They will deploy about 10,300 GPUs to serve their global APAC customers and run their own models and services,” Sunil Gupta, chief executive of Yotta, told us.

The remaining capacity will partly support India’s national AI Mission.

Also Read: Mastercard’s AI agent-led pay awaits approval: Top executive

Meta flags ‘operational challenges’ with three-hour delete rule

Rob Sherman, vice president of policy and deputy chief privacy officer, Meta

Meta has expressed concerns about the practicality of India’s proposed three-hour deadline for removing offensive content, while confirming it will comply with the country’s evolving digital and AI rules.

What’s the issue? At the Summit, Rob Sherman, Meta’s vice president of policy and deputy chief privacy officer, said the company “philosophically” agrees with the government’s safety goals.

However, he pointed out that each government request must be carefully reviewed, investigated and verified before any action is taken, making very short timelines difficult to meet.

Also Read: ‘India needs an AI creation metric to weigh progress’: Kore.ai founder

India has an opportunity to create a third way of AI: Mozilla Foundation president

Mark Surman, president of the Mozilla Foundation, said countries such as India have a major chance to lead in artificial intelligence by backing open-source models and creating an alternative path to AI, separate from Western Big Tech and China.

On AI governance: Mozilla executives Linda Griffin and Kush Amlani said global discussions have moved beyond just safety issues. The focus is now wider, covering competition, transparency and giving users more choice.

Also Read: Union minister Ashwini Vaishnaw sees AI investment of $200 billion in 2 years

Skyroot eyes up to $200 million raise at $1 billion valuation

Space technology startup Skyroot Aerospace is seeking to raise between $150 million and $200 million (around Rs 1,800 crore) to fuel its next growth phase, sources told us.

More details:

The deal could value Skyroot at nearly $1 billion.
The Singapore sovereign investors GIC and Temasek-backed company has appointed Kotak Mahindra Capital to manage the sale of a minority stake.
Both global and domestic funds have been approached.
Skyroot plans to issue fresh primary shares, with no dilution for existing shareholders.

Also Read: AI consultancy Navikenz raises $7.5 million from former Hexaware CEO, others

Stable Money secures $25 million in fresh equity from Peak XV Partners and others

Saurabh Jain (left) and Harish Reddy, founders, Stable Money

Fixed income investment platform Stable Money has raised $25 million in a new funding round led by Peak XV Partners, with participation from existing investors Fundamentum Partnership, Z47 and RTP Global.

Round details: Cofounder Saurabh Jain said $20 million of the total came from Peak XV Partners, with the rest contributed by other investors. The round values the company at around $175 million, up from $125 million during its previous round last year.

“The funds will primarily be used to grow the business, our aim is to grow our customer base and scale by five times by the end of this year,” Jain said.

Also Read: CraftifAI raises $3 million from Ankur Capital, others

Emergent crosses $100 million in ARR as demand for vibe coding picks up

Emergent founders Mukund Jha (left) and Madhav Jha

Vibe-coding startup Emergent has crossed $100 million in annualised run rate (ARR) just eight months after launch. Founder and CEO Mukund Jha told us the metric nearly doubled in the past month, placing the SoftBank-backed company among the fastest-scaling Indian AI startups.

Viral growth: Emergent’s platform lets users build full-stack applications using natural language prompts. The company now counts more than 50,000 active developers and says its tools have enabled users to build full-stack applications 10 times faster.

The milestone comes only a month after its $70 million fundraise in January led by Khosla Ventures and SoftBank at a $300 million valuation.

Adani to invest $100 billion in AI data centres by 2035

The Adani Group has unveiled plans to invest $100 billion in AI data centres across India by 2035.

Investment details: The company said this initial commitment could unlock an additional $150 billion across related industries such as server manufacturing, electrical systems, and cloud platforms. Overall, the plan could drive nearly $250 billion of AI infrastructure being developed in India over the next decade.

The data centres will run on renewable energy, with Adani positioning the project as part of a wider effort to build both computing and energy capacity for AI workloads.

Yes, and? The strategy expands AdaniConnex’s current 2 GW data centre network, with capacity targeted to scale to 5 GW.

Adani is working with Google to develop a large AI data centre campus in Visakhapatnam.
Collaborations with Microsoft are underway in Hyderabad and Pune.
The group will also extend its partnership with Flipkart to support ecommerce and AI infrastructure needs.