Core Insights - Tata Consultancy Services (TCS) has secured $1 billion from TPG for a $2 billion project to develop gigawatt-scale data centers in India, named "HyperVault" [1] - India generates nearly 20% of the world's data but only has about 3% of global data center capacity, highlighting a significant demand-supply gap for AI compute [2] - The HyperVault project aims to create liquid-cooled, high-density data centers to support advanced AI workloads across major cloud regions [3] Industry Challenges - Liquid cooling and high-density rack designs are becoming common due to the high power and heat generated by GPUs used for AI, raising concerns about resource use in water-scarce regions like India [4] - Existing water stress in urban hubs such as Mumbai, Bengaluru, and Chennai complicates operations, with a 1-MW data center load potentially requiring up to 25.5 million liters of water annually for cooling [5] - The rapid construction of AI data centers may further strain India's power and land resources, which are already bottlenecks in major urban areas [6] Investment Landscape - Global tech companies view India as a key area for building AI infrastructure, with over $32 billion invested in data center infrastructure in the last two years [7] - Microsoft plans to invest $3 billion over two years in India's cloud and AI infrastructure, while Google has committed $15 billion over five years for a gigawatt-scale AI data center hub in Andhra Pradesh [8] - Amazon has also pledged $12.7 billion to develop AWS cloud infrastructure in India through 2030 [8]

TCS raised $1 billion from private equity group TPG for its AI data center business HyperVault, it says in a statement https://t.co/i5f74Cw0zP ...

Core Insights - HyperVault developers executed a rug pull, draining approximately $3.6 million in user funds before disappearing and deleting all social media accounts [1] - The stolen funds were laundered through Tornado Cash, with 752 ETH deposited to obscure transaction trails [2] - Despite early warnings about suspicious audit claims, many users continued to deposit funds due to high advertised yields [5][6] Company and Project Details - HyperVault claimed pending audits from firms Spearbit, Pashov, and Code4rena, but investigations revealed no involvement from these firms [3][5] - The rug pull adds pressure to Hyperliquid's ecosystem, as the HYPE token faces competition from ASTER DEX, which processed over $13 billion in daily perpetual futures volume [3] - Arthur Hayes previously exited his entire HYPE position for a profit of $823,000, citing upcoming token unlocks worth $11.9 billion starting November 29 [4] Community Response and Warnings - A community member raised concerns about HyperVault's security audits on September 4, urging immediate withdrawals, but these warnings were ignored [2][5] - Prominent supporters of HYPE continued to promote the protocol until just days before the rug pull, despite the red flags [6] - The project lacked transparency regarding team identities and failed to provide legitimate audit documentation [7]