India's hidden AI winners as data-centre infrastructure demand surges

India may lack AI software giants, but companies supplying cables, transformers and cooling systems for data centres are emerging as key beneficiaries of the AI boom

India may have missed the artificial intelligence (AI) software rally, but companies supplying cables, transformers, cooling systems and other data-centre infrastructure have emerged as unlikely beneficiaries of the global AI boom.  The country may lack AI champions, but the firms building the infrastructure behind the boom are quietly becoming stock market winners.