The value of Nidar Infrastructure, Yotta's parent company, would be about $2.75 billion before the deal is closed. The parent company of Yotta data centers, Nidar Infrastructure, is getting ready to go public on Nasdaq by merging with a special purpose acquisition company, or SPAC, called Carta.
The merger places a value of around $2.75 billion on Nidar, the parent company, before the deal is finalized. Darshan Hiranandani's wealthy approach includes building and managing India’s top data center provider. He stressed that by merging with Cartica, the management team will be well-positioned to keep growing Yotta’s world-class platform, speed up its growth, and create lasting value for shareholders.
Yotta designs and operates Tier III and IV data centers in India, offering services like colocation, hyperscale, cloud, and managed solutions. An investor presentation by Carta reveals that Yotta currently has 33 megawatts of data center capacity and could expand to 890 megawatts in the future.
The company expects its revenue to triple to $156 million in FY25, but its net loss is expected to increase to $113.4 million. It also plans to spend $1 billion on capital expenses that year. Yotta recently made headlines by being the first to purchase Nvidia’s H100 graphics processing units. It ordered 16,000 GPUs, with 850 already delivered. The company also plans to buy another 16,000 GPUs over the next year.
Sunil Gupta, CEO and co-founder of Nidar, said, "Yotta is India’s leading data center provider for AI and high-performance computing. With our special access to advanced GPUs through our partnership with a global leader in high-performance computing, along with the chance to tap into US capital markets, Yotta is well-prepared to meet the growing demand for cloud infrastructure and AI."
Darshan Hiranandani, co-founder of Nidar and director of its largest shareholder, said, "Nidar’s management team has extensive experience in building and running India’s leading data center provider. By merging with Cartica, our team will be able to continue growing Yotta’s top platform, accelerate its growth, and create lasting value for shareholders."
Gupta has worked in the data center business for decades and co-founded Yotta in 2019 with help from real estate billionaire Niranjan Hiranandani, according to a Bloomberg report. As a cloud computing provider, Yotta lets companies like Wells Fargo & Co. use data storage and computing power that they can adjust when needed, without having to buy and install their own equipment.
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