Adani JV To Acquire AI Startup Coredge To Expand Data Centre Offerings

A joint venture company of the Adani Group and Abu Dhabi-based Sirius International Holding will acquire a majority stake in AI and cloud platform startup Coredge.io.

Sirius Digitech Ltd. has signed binding agreements to buy a 77.5% stake in parent Parserlabs India Pvt. The acquisition will be completed by September.

The Adani Group, through its JV, will be able to expand its offerings in the data centre and cloud offering space, it said in a statement on Tuesday.

The conglomerate is involved in the data centre business through a joint venture, AdaniConneX, and operates a network of hyperscale data centres in India, starting with Chennai, Navi Mumbai, Noida, Vizag and Hyderabad.

Stressing data security, Adani Group Director Jeet Adani said sovereign data centres have gained importance for protecting sensitive information and maintaining national security, given the exponential growth in artificial intelligence-driven demand for computation and the sovereign data stack.

"An additional benefit of this acquisition is our ability to put AI capabilities directly in the hands of organisations that require specialised sovereign cloud services for AI training and inferencing," Adani said.