India's telecom company, Bharti Airtel, has raised $1 billion for its data center arm, Nxtra Data, from private equity firms Alpha Wave, Carlyle and Anchorage Capital. The money will be used to fund expansion across India and will value Nxx Data at approximately $3.1 billion once the transaction closes. The funds will be contributed by Airtil. The capital raised will be distributed by the remaining funds. Data center demand globally has surged in recent years due to the explosion of AI workloads, which require vast computing power, electrical power, cooling and networking infrastructure.