Rs 23,500 cr heat bottleneck: 3 stocks powering India’s AI data center boom

The rise of Artificial Intelligence workloads, driven by NVIDIA and hyperscalers such as Amazon Web Services, Microsoft Azure, and Google Cloud, has fundamentally altered how data centers consume power and, more importantly, how they generate heat.

Thermal bottlenecks: The shift from power to cooling

This, in turn, shifts the bottleneck from electricity supply to thermal management. This makes cooling no longer a support function, but a necessity. S&P Global Ratings projects that data center capacity in India will expand to 3-3.5 gigawatts (GW) over the next 4-5 years, up from 1.5 GW currently.