Budget boost: Data center stocks surge on tax holiday
Business
India's data center stocks shot up after the government announced a big tax holiday for foreign cloud companies using Indian data centers.
The move also set a 15% safe harbor margin and references projects such as the OpenAI-Tata project, which is planned to start at about 100 MW and scale to 1 GW.
Data centers at heart of AI, cloud growth
If you're into tech or investing, this is huge—data centers are at the heart of AI and cloud growth.
Some listed data center companies saw shares surge after the announcement.
With no pure-play AI stocks listed yet in India, these data center firms offer a real way to ride growing data center investment across the Asia Pacific—so this sector could get even hotter from here.