India may not have a direct play on the global artificial intelligence boom through large language models or semiconductor chips, but the massive investments flowing into AI infrastructure are opening up opportunities elsewhere.
Hiren Ved, Director & CIO at Alchemy Capital, believes the country's indirect AI opportunity lies in areas such as power, data centres, electrical equipment and capital goods.
As hyperscalers ramp up spending on AI infrastructure globally and expand their presence in India, demand for transformers, cables, cooling systems, switchgear and other data centre-related infrastructure could create new growth opportunities for Indian companies.
Ved also expects the power ecosystem to emerge as a key beneficiary, given the enormous energy requirements of data centres.
