One of the world's more, lets call them controversial equity firms, Blackstone, mostly known for owning large amounts of real estate around the world, has come to the aid of Indian AI start-up, Neysa, who is in need of funding.
More specifically, Neysa is looking to get $1.2 billion from investors, where Blackstone and a few friends, including Nexus Venture Partners have already promised $600 million according to an official press release by Neysa. The money is apparently to be spent on GPU power, with only a mere $50 million was raised previously. The last $600 million is planned to be acquired via debt, a strategy that has become common amongst AI companies.
Neysa is focusing on providing AI driven infrastructure, called neo-clouds, where GPU computational power is offered as a service, often used for very specific use-cases that mostly require GPU computing. While more specialised, they do offer cheaper pricing in general than broad could services Microsoft Azure. India's AI sector is generally considered small but fast growing, with most analytics predicting a growth factor in GPU demand by dual digits for years to come.