Sterlite Technologies leads India stock surge amid AI boom
Indian companies are having a big moment thanks to the worldwide rush to build AI-powered data centers.
Sterlite Technologies, part of Vedanta Group, leads the pack with its stock jumping more than 530% this year after landing a $1.1 billion contract with a US tech giant.
Others like HFCL and MTAR Technologies aren't far behind, seeing their shares surge by 191% and more than trebled as demand for servers and networking gear skyrockets.
Amazon and Alphabet invest in India
Global players are betting big on India too: Amazon is investing $12.7 billion in cloud infrastructure by 2030, while Alphabet is putting $15 billion into an AI hub in Visakhapatnam.
Altogether, companies tied to this boom have added $47 billion in value just this year.
With experts predicting over $1.2 trillion will pour into hyperscale data centers worldwide from 2025 to 2027, it looks like Indian suppliers are finally getting their time in the spotlight.