TCS partners with TPG for Hypervault AI datacentres

Mumbai: The country's largest IT services company TCS has announced a tie-up with private equity major TPG for its upcoming data centre business, in which both the partners aim to pump in equity of around Rs18,000 crore. TPG will be the only equity partner in the venture, and invest $1 billion or around Rs8,820 crore in the AI data centre business christened as 'Hypervault'. It will hold a stake between 27.5-49 per cent in the venture.

The deal comes within 40 days of the Tata Group company announcing its entry into the data centres business with a plan to have a 1 GW capacity, which would require investments of $6.5 billion (around Rs57,600 crore).