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India's Sterlite Technologies lands $1.1 billion data‑center hardware contract
India, lagging behind the United States, China and Taiwan in designing AI chips and models, is turning to the "hardware" side of artificial intelligence. Companies such as Sterlite Technologies, formerly a modest telecom‑cable maker, are now producing fiber‑optic cables and other equipment needed for data‑center operations that power AI.
Sterlite’s chief executive Ankit Aggarwal called a newly signed $1.1 billion contract with a U.S. IT‑services provider “the opportunity of a lifetime”. The deal, worth roughly a quarter of Sterlite’s annual turnover, marks the firm’s biggest single order to date. Competitor HFCL has also reported a surge in activity, posting its best quarterly results ever for the April‑June period.
Industry analysts note that India’s AI services sector is valued at about $315 billion a year, but faces pressure from global AI leaders. The pressure has coincided with a 7 % drop in the Nifty index in 2026 and a loss of $27 billion in foreign investment. Indian firms are therefore focusing on supplying data‑center components—connectors, transformers, cables, generators and cooling systems—rather than trying to design chips or train large models.
Entities
Air Liquide · Ankit Aggarwal · Fabrice Brion · HFCL · Indian AI services sector · I‑care · STMicroelectronics · Schneider Electric · Shriram AMC · Sterlite Technologies
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] Shriram AMC's Prateek Nigudkar said India does not need to make chips or train models, only data‑center components. fr.news.yahoo.com · information.tv5monde.com · imazpress.com
- [● 3 SOURCES] India's Nifty index fell 7 % in 2026 and foreign investment in the market fell by $27 billion. fr.news.yahoo.com · information.tv5monde.com · imazpress.com
- [● 3 SOURCES] HFCL posted its best quarterly result ever for the April‑June period. fr.news.yahoo.com · information.tv5monde.com · imazpress.com
- [● 3 SOURCES] Indian firms are shifting focus to AI infrastructure equipment such as generators, coolers and cables. fr.news.yahoo.com · information.tv5monde.com · imazpress.com
- [● 3 SOURCES] The contract represents about a quarter of Sterlite Technologies' annual revenue. fr.news.yahoo.com · information.tv5monde.com · imazpress.com
- [● 3 SOURCES] Ankit Aggarwal described the $1.1 billion deal as a once‑in‑a‑life opportunity. fr.news.yahoo.com · information.tv5monde.com · imazpress.com
- [● 3 SOURCES] Sterlite Technologies signed a $1.1 billion contract with a U.S. IT‑services provider. fr.news.yahoo.com · information.tv5monde.com · imazpress.com
- [● 3 SOURCES] India's AI services sector is valued at $315 billion annually. fr.news.yahoo.com · information.tv5monde.com · imazpress.com