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This marks Blackstone’s first investment in a pure-play AI platform in India. Globally, it has backed OpenAI and Anthropic
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Mike Segar
Blackstone Inc, along with co-investors, have agreed to acquire over 50 per cent stake in AI acceleration cloud platform Neysa, which is raising $1.2 billion through an equal mix of debt and equity.
Blackstone will provide up to $600 million in equity raise and partner with Neysa’s Co-Founder and Chief Executive Officer, Sharad Sanghi, to accelerate growth. The move provides a material impetus to Neysa’s planned scale-up and deployment of over 20,000 GPUs in India, helping to drive the country’s AI revolution.
Other equity investors include TVS Capital, 360 ONE Assets, Nexus Ventures and Teachers’ Venture Growth. Neysa will also secure $600 million in debt financing, subject to documentation.
This marks Blackstone’s first investment in a pure-play AI platform in India. Globally, it has backed OpenAI and Anthropic.
Digital infra
“India’s AI ambition requires production-grade infrastructure built and operated at scale. With Blackstone’s experience in scaling critical infrastructure, we aim to help establish India as a globally relevant AI compute destination,” said Sharad Sanghi, Co-Founder and Chief Executive Officer of Neysa.
Neysa provides purpose-built and cost-effective GPU-based AI infrastructure that enables enterprises and institutions to train, fine-tune, and deploy AI workloads.
Global footprint
Blackstone affiliates are a significant global investor in the foundational tools, infrastructure, and technologies that drive AI’s development and adoption, such as the world’s largest data centre platform QTS, Asia Pacific’s leading data centre platform AirTrunk, specialised cloud infrastructure company CoreWeave and an Australian-based AI infrastructure platform called Firmus.
Amit Dixit, Head of Asia Private Equity at Blackstone, said, “This investment reinforces Blackstone’s focus on backing the essential “picks and shovels” of AI globally, including in India, a key market for Blackstone.”
Ganesh Mani, a Senior Managing Director in Blackstone Private Equity, said, “This investment positions Neysa to play a meaningful role in advancing AI infrastructure in India and enables businesses and public institutions to deploy AI technologies more effectively as AI adoption accelerates.”
Greyhound Research said this strengthens India’s bargaining power in global AI compute allocation cycles and deepens sovereign capacity optionality. However, utilisation must ramp predictably, pricing assumptions must remain conservative, and debt structuring must account for hardware refresh velocity.
“This deal will succeed operationally if power is secured ahead of silicon delivery, cooling architecture is optimised for density, and interconnect fabric is engineered for training scale. It will struggle if infrastructure readiness lags hardware procurement,” said Sanchit Vir Gogia, Chief Analyst at Greyhound Research, adding how the deal shows institutional conviction that GPU clusters are becoming long-duration digital utilities.
India’s GPU market, at around 60,000, is nascent and expected to grow 30x to 2 mm units over five years, driven by rising adoption by government, financial services sector, and the race to build sovereign AI models.
Published on February 16, 2026
