Sterlite Technologies and HFCL stocks surge on AI infrastructure boom
Indian companies building the backbone for AI (think optical fiber and data center tech) are having a huge year.
Sterlite Technologies, part of Vedanta Group, saw its shares rocket up more than 530% after landing a $1.1 billion deal in May 2026.
Rival HFCL was not far behind with a 191% jump.
All this is thanks to booming demand for AI infrastructure worldwide.
Indian data center suppliers gain $47bn
The combined market value of 28 Indian data center supply firms has shot up by $47 billion (almost 50%) just this year.
Global tech giants are pouring in cash too: Amazon plans to invest $12.7 billion in cloud infrastructure by 2030, while Alphabet is building a massive $15 billion AI hub in Visakhapatnam.
Analysts say this could be the biggest tech investment wave yet (bigger than even the rollout of 4G or LNG) and orders placed now could keep revenue flowing through 2027-2029.