The Hidden AI Trade: How 2 Indian Mid-Caps Are Monetising the Infrastructure Boom
Artificial Intelligence (AI) isn’t just a distant buzzword anymore; it is already an economy-driving force that is transforming industries worldwide. Globally, the Artificial Intelligence market is projected to grow at a compound annual growth rate (CAGR) of over 35%, reaching $1.8 trillion by 2030. Even as the spotlight in India largely remains on conglomerates like Reliance Industries and Adani Group in terms of technology-led growth, a more muted story is unfolding underneath. Two mid-cap, Indian companies are quietly making money off the technology-led boom, not by chasing headlines, but by positioning themselves at the centre of India’s Artificial Intelligence infrastructure build-out.
India’s AI Boom: An Infrastructure-Led Opportunity
India’s Artificial Intelligence ecosystem is growing quickly, fuelled by increased cloud adoption, growing demand for high-performance computing (HPC), and data emerging in volumes across sectors, including fintech, healthcare, e-commerce, and manufacturing, amongst others. According to industry estimates, India’s data centre capacity is expected to grow from around 950 MW currently to over 2,000 MW by 2030, implying a CAGR of nearly 15–18%. The real money in this cycle, unlike consumer-facing AI spinouts, is being made in the infrastructure layer, from the servers to the data centers to networking hardware and cloud platforms that allow those big power models come to life.
This we-built-it era of Artificial Intelligence has paved the way for specialised companies that work behind the scenes. Rather than trying to compete with tidal global tech giants, these companies are staking their claims in AI systems integration and data centre infrastructure areas that are experiencing long-term, sustainable demand.
Netweb Technologies: Accelerating Artificial intelligence with High-Performance Computing
Among the most obvious beneficiaries of the Artificial Intelligence infrastructure wave is mid-cap company Netweb Technologies, which focuses on high-performance computing systems.
Building the Brains Behind AI
Netweb does not manufacture Artificial Intelligence chips like NVIDIA or AMD. Instead, it designs and integrates complete Artificial Intelligence computing systems, including servers, storage, networking solutions, and motherboards—that are optimised for Artificial Intelligence and data-intensive workloads. These systems are used by enterprises, research institutions, and cloud providers that require large-scale computing power.
Working with leading global chip manufacturers and specialising in system-level customisation, Netweb fills a critical void between hardware advancement and Artificial Intelligence deployment.
Robust Expansion Driven by Artificial Intelligence Demand
The financial wording of the company’s earnings release points to increasing demand for Artificial Intelligence -equipped systems. A sizeable proportion of Netweb’s latest sales uplift has come from orders for Artificial intelligence , machine learning, and data centre use cases. Its order book has grown consistently, indicating current demand and longer-term visibility.
What differentiated Netweb is its ability to offer end-to-end capabilities from design through deployment, which allows it to capture more value than a typical hardware reseller. With the growing complexity and compute-intensive Artificial Intelligence workloads, customised HPC solutions are no longer a luxury but a necessity.
Why Netweb’s Model is Ideal for Long-Term
Netweb’s business model aligns well with structural trends in Artificial Intelligence adoption. As companies move from experimentation to full-scale Artificial Intelligence deployment, the demand for scalable, reliable computing infrastructure will only rise. Moreover, India’s push for domestic technology capabilities and local manufacturing adds another tailwind for system integrators like Netweb.
Instead of betting on consumer sentiment or short-term tech cycles, Netweb benefits from enterprise and institutional spending, which tends to be more stable and recurring. This makes it a quieter—but potentially more durable Artificial Intelligence play.
Anant Raj: A Real Estate Company Reinvented for the AI Era
While Netweb works in the hardware and systems realm, the other mid-cap to gain from the AI boom is from an altogether different sector. Anant Raj, a legacy real estate developer, is converting itself into a credible cloud and data center infrastructure provider through its digital arm.
From Buildings to Bytes
The prime advantage for Anant Raj is its current real estate portfolio. Rather than constructing new greenfield data centres, the company has been pre-appropriating commercial real estate into Artificial Intelligence ready, high-density data centre properties. This reduces both capex per MW by 20-30% compared to greenfield builds.
These facilities are sold under its cloud infrastructure label and are engineered for high-growth AI workloads that demand high power density, cooling capacity, and uptime.
Capital Efficiency Meets AI Scalability
The data centre is the backbone of Artificial Inteliigence computing. The push for more specialized data centers is intense, as AI models have become bigger and more energy-intensive. The company follows Anant Raj’s model of scaling up capacity in a phased manner, and its asset-backed approach permits it to have a cost advantage.
More importantly data centre and cloud services business offers a recurring, annuity-like revenue as opposed to the traditional real estate sales. As utilization gets better, margins tend to expand, which creates very long-term value beyond the company’s legacy real estate business.
That strategic move has put Anant Raj in the path of the same Artificial Intelligence trend, except more on the infrastructure and services side than hardware.
Two Roads, One Strong Theme
Although Netweb Technologies and Anant Raj are in completely different sectors of business, they revolve around the same theme: Artificial Intelligence infrastructure.
- Netweb captures value by providing the computing systems that power Artificial Intelligence workloads.
- Anant Raj gets a payoff by owning and running the physical infrastructure on which Artificial Intelligence computing occurs.
Neither company is creating artificial intelligence products directly for consumers, though both are critical to the Artificial Intelligence ecosystem. This highlights an important lesson for investors and market watchers—the biggest opportunities are not always the most visible ones.
Why These Mid-Caps Are Flying Under the Radar
Unlike the big conglomerates, these mid-cap firms attract far less media coverage and analyst interest. They have indirect exposure to AI, which may be why they are so easily ignored in headline-crafted market narratives.
But that also means their growth is based on real demand rather than hype. While the AI adoption continues to expand as businesses of all stripes adopt the latest tools, spending on computing power and data centres should remain robust, providing a long runway for both businesses.
Final Thoughts: Quiet Winners in a Loud Revolution
The AI revolution is loud, swift, and disruptive, but not all winners are noisy. Netweb Technologies and Anant Raj are among a class of midcap Indian companies that are quietly leveraging at the center of India’s AI infrastructure theme.
They focus on systems, scalability, and capital efficiency: these companies are actually making money out of AI growth without chasing buzzwords. For readers who are digging beyond the headline names such as Reliance and Adani, these mid-caps provide a welcome reminder that often the most powerful trends are best spotted backstage.
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