Sterlite Technologies stock up 500% as AI boosts demand
Sterlite Technologies, the Vedanta-backed company making optical fiber cables, just saw its stock price shoot up 500% this year.
In only six months, its market value jumped from ₹4,000 crore to ₹30,000 crore, all because the global rush for artificial intelligence (AI) is driving huge demand for faster internet and data connections.
Sterlite Technologies wins $1B US order
With India's data center industry growing fast, IT load rising from 350 megawatts in 2019 to about 1.5 to 1.6 gigawatts by 2025, optical fiber is suddenly in hot demand.
Sterlite also landed a massive $1 billion order from a US tech giant building AI-focused data centers, helping it stand out globally.
Analysts say Sterlite's focus on AI trends and its all-in-one business model are big reasons behind this record-breaking growth.