India's Data Center Boom Is Creating Unlikely Winners

Everyone is talking about AI. Almost nobody is tracking the companies supplying the physical infrastructure behind it. Data centers consume massive amounts of power, cooling systems, cables, transformers and electrical equipment. As capacity additions accelerate, the beneficiaries may not be technology companies but industrial and electrical players. Companies like $POLYCAB , $KEI , $ABB , $SCHNEIDER and $BLUESTARCO could see a steady stream of demand from this trend.