Indian tech group; holding company for Reliance’s digital ventures
Meta has announced a 168-megawatt AI-enabled data center in Jamnagar, Gujarat, built by Reliance Industries with renewable energy and desalinated water cooling. The facility will be ready within two years and can be expanded, supporting Meta’s global AI infrastructure as part of a broader India-focused expansion.
SK Hynix has raised $26.5bn by selling 177.9m American depositary receipts at $149 each, in the largest-ever US share sale by a foreign company. Its ADRs have begun trading on Nasdaq under temporary ticker SKHYV and will convert to SKHY; the company is using proceeds to expand fabs, packaging and EUV capacity as AI-driven memory demand surges.
SBI Funds Management has drawn bid interest worth 2.97 trillion rupees for its IPO, oversubscribing by 41.6 times. The firm, a SBI-Amundi joint venture, has raised up to 116.9 billion rupees and aims to be India’s leading fund manager. The market response underscores continued liquidity for large public offerings despite a softer year for listings.