Industry Overview - India's data centre industry is entering a new phase with increasing interest in public market listings and joint ventures as funding options due to surging demand for AI-ready infrastructure [1] - The industry has experienced a growth rate of 25.47% annually from 2021 to 2025, making it one of the fastest-growing sectors in the Asia-Pacific region [8][9] - India's current data centre capacity is significantly lower than global leaders, with the US having nearly 18 times and China around 3.5 times greater capacity [9] Company Developments - Sify Infinit Spaces Ltd has received regulatory approval for a ₹3,700 crore IPO, with ₹1,325 crore allocated for capital expenditure on data centres [2] - Yotta Infrastructure plans to pursue a domestic stock market listing before considering US capital markets, potentially listing in the next financial year [2] - Nxtra Data Ltd, a subsidiary of Bharti Airtel, is contemplating a potential IPO amid competitive pressures from Reliance Industries and Adani Enterprises, with estimated valuations around $3 billion [3][4] - CtrlS Datacenters Ltd is also looking at a public listing to meet capital expenditure needs [5] Investment and Joint Ventures - Major investments in the data centre sector include $60 billion in total announcements in 2025, with significant contributions from Reliance Industries, Adani Group, and major tech companies like Google and Microsoft [11] - Notable projects include RIL's $11 billion investment for a 1 GW data centre in Visakhapatnam and a $15 billion partnership between Google and Adani Enterprises for India's largest AI data centre campus [12][13] - The future of the sector is expected to be defined by partnerships and joint ventures, combining local infrastructure with global expertise [14][15]

Core Insights - Saudi Arabia's National Infrastructure Fund and Humain announced a financing agreement of up to $1.2 billion to expand AI and digital infrastructure in the country [1][2] - The agreement includes non-binding financing terms for developing up to 250 megawatts of AI data center capacity [1] - Humain aims to lead national AI development efforts and has secured partnerships with notable companies like Elon Musk's xAI and Blackstone-backed AirTrunk [3] Group 1 - The financing agreement was announced in Davos, Switzerland, highlighting Saudi Arabia's commitment to AI development [1] - The initiative is part of a broader strategy to diversify the economy away from hydrocarbons and meet the growing demand for computing power [2] - Humain, established last year and fully owned by the Public Investment Fund, is targeting a data center capacity of about 6 gigawatts by 2034 [3] Group 2 - The National Infrastructure Fund and Humain are exploring a potential AI data center investment platform to attract global and local institutional investors [4] - This platform aims to support the growth of Humain's AI strategy, indicating a collaborative approach to investment in the sector [4]

ABU DHABI, Jan 21 (Reuters) - Saudi Arabia's National Infrastructure Fund and Humain, the kingdom's artificial intelligence ​company, announced a financing agreement of up ‌to $1.2 billion on Wednesday to support the expansion of AI and ‌digital infrastructure in the country. The agreement outlines non-binding financing terms for the development of up to 250 megawatts of AI data centre capacity to support Humain's customers, ⁠and was announced in ‌Davos, Switzerland, according to a statement. The world' ...

Market Overview - Australian shares are expected to open flat, with minimal changes in futures [1] - The tech sector in the U.S. has experienced a significant sell-off, with the S&P 500 down nearly -1.2% and the Nasdaq composite down -1.8% [3] - European and Asian markets are not providing direction for Australia, with London's FTSE up +0.9% and Japan's Nikkei up +0.5% [3] Company News - ANZ Group (ASX:ANZ) is facing shareholder dissatisfaction over a board pay plan and responses to compliance failures, leading to a second investor strike [4] - Santos (ASX:STO) is preparing financing for a large LNG project in Papua New Guinea, with total costs projected to reach $27 billion [5] - Elders (ASX:ELD) is holding an AGM where investors will inquire about succession plans for long-time chief Mark Allison [5] - Netwealth (ASX:NWL) has reached a settlement with ASIC, agreeing to pay over $100 million to those affected by First Guardian's fund collapse [6] - Treasury Wines (ASX:TWE) has seen a -10% decline this week due to sales misses [6] Commodities and Forex - The Australian dollar is trading at 66 U.S. cents [7] - Iron Ore prices have increased by +1% to $103.60 per tonne [7] - Brent Crude oil has risen by +2.8% to $60.57 per barrel [7] - Gold is priced at $4,350 per ounce [7] - U.S. natural gas futures have surged by +5% to $4.10 per gigajoule [7]

Min is denoted by 0 and Max by 1. Source: J.P. Morgan Flows & Liquidity. Cross Asset Positioning Monitor aggregates across the various position indicators of Appendix ranging from positioning proxies across various futures contracts, momentum signals as proxies of how trend-following funds/ CTAs are positioned, mutual fund betas as proxies of how mutual fund managers are positioned, risk parity fund positioning and leverage proxies, hedge fund betas as proxies of how hedge fund managers are positioned, clie ...

Core Viewpoint - Adani Group plans to invest up to $5 billion in Google's AI data centre project in India, aiming to leverage the increasing demand for data capacity in the region [1] Group 1: Investment Details - The investment amount is projected to be as high as $5 billion, indicating a significant commitment to the AI data centre initiative [1] - This investment aligns with the growing trend of digital transformation and the need for enhanced data infrastructure in India [1] Group 2: Market Context - The demand for data capacity in India is booming, driven by the rapid growth of digital services and cloud computing [1] - The collaboration between Adani Group and Google highlights the strategic partnerships forming in the tech and infrastructure sectors to meet this demand [1]

Core Insights - GMI Cloud, a U.S.-based cloud services provider, announced plans to build a $500 million artificial intelligence data center in Taiwan with support from Nvidia [1] Company Summary - GMI Cloud is investing significantly in the development of AI infrastructure, indicating a strategic focus on enhancing its capabilities in the artificial intelligence sector [1] - The collaboration with Nvidia, a leading chipmaker, suggests that GMI Cloud aims to leverage advanced technology to strengthen its service offerings [1] Industry Summary - The establishment of AI data centers is a growing trend in the cloud services industry, reflecting increasing demand for AI-driven solutions [1] - The investment in Taiwan highlights the region's importance as a hub for technology and innovation, particularly in the semiconductor and AI sectors [1]

Core Insights - HydraVault has received a construction permit for a next-generation data center in downtown Chicago, marking the city's first purpose-built facility for AI and financial applications [1][5] - The data center is designed to support high-demand applications such as AI inferencing, large-scale model training, and low-latency financial trading, with initial user access expected by December 2026 [1][4] - The facility will feature advanced infrastructure, including rack densities up to 200kW and 20MW of available power, catering to AI-enabled operations [2][3] Infrastructure and Design - The data center will implement a closed-loop waterless cooling system aimed at enhancing energy efficiency, with a projected annual power usage effectiveness rating of 1.19 [3] - Gensler, the design firm, emphasizes the facility's role in setting new standards for innovation and sustainability in next-generation data centers [2][3] Strategic Importance - The data center is positioned as a strategic differentiator for firms in AI, machine learning, and financial services within the Chicago area, according to HydraVault's founder [4] - The project involves collaboration with various partners, including Syska Hennessy Group for engineering services, highlighting a community-focused approach to construction [4][5] Construction Management - Power Construction Company, known for its expertise in technical builds, will manage the construction and engage with the local community throughout the process [5] - The project is seen as a significant step in establishing purpose-built AI infrastructure in Chicago, utilizing advanced construction techniques [5]