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Adani flagship company plans to invest $1.5 billion in data centers

The corporation intends to construct nine data centers with a total capacity of one gigawatt by 2030, even as it deals with the Adani shares overleveraged controversy.

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Adani flagship company plans to invest $1.5 billion in data centers

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  1. Adani flagship company plans to invest $1.5 billion in data centers

  2. Despite the current Adani shares overleveraged controversy, Adani Enterprises Ltd., the flagship company of billionaire Gautam Adani, plans to invest approximately $1.5 billion in its promising data center sector over the next 3 years. Jugeshinder Singh, the Chief Financial Officer of Adani Enterprises, informed analysts that the company expects to spend roughly $500 million a year. It will be the capital expenditure on its data center business, AdaniConnex Pvt. Ltd., a joint venture with global data center provider EdgeConnex Inc.The expenditure will be taking place in 2023 and the next 2 years, as per a filing dated 8th November 2023. By 2030, the corporation hopes to have built 9 data centers with a combined capacity of one gigawatt.

  3. Adani Enterprises Ltd. plans to invest approximately US$1.5 billion The corporation intends to construct nine data centers with a total capacity of one gigawatt by 2030, even as it deals with the Adani shares overleveraged controversy. This will provide infrastructure for the rapidly growing demand for digital services in the 1.4 billion-person country, which is already drawing the attention of the largest international companies, including Google and Amazon.com Inc.

  4. Group’s Incubator The data center division is one of the more recent ventures for Adani Enterprises, the Group's incubator. In November 2023, it reported disappointing earnings because its newer businesses outperformed its traditional coal trading business in terms of revenue. According to the CFO's most recent capital spending guidance, the ports-to-power conglomerate is expanding faster. The company spent a large portion of 2023 recovering from the Adani shares overleveraged controversy, which resulted from Hindenburg Research's shocking accusations of corporate fraud in January 2023.

  5. THANK YOU

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