CPP Investments commits up to ₹70 billion to CtrlS to build hyperscale AI data centers in India

Canada Pension Plan Investment Board’s CPP Investments will commit up to ₹70 billion (about $741 million) to Indian data center operator CtrlS, including a ₹40 billion investment for an 8.2% stake and up to ₹30 billion for a joint venture to develop hyperscale campuses. Under the partnership announced on Wednesday, CPP Investments will own 48% of the joint venture and CtrlS will hold 52%, the companies said in a joint statement. The deal adds to a series of international investments targeting India’s AI- and cloud-driven data center buildout, following plans announced by Blackstone-backed AirTrunk and a Meta partnership with Reliance Industries.