Before someone jumps in to say that the backbone of an AI movement is technological advancement and coding brilliance, I would politely disagree. The real backbone is the creation of AI infrastructure, the invisible highway on which AI rides and runs.

We, as consumers, see the shiny end product. We see a chatbot answering questions, an app recommending movies, or a stock exchange or bank detecting fraud in milliseconds. What we don’t see is the immense work behind the curtain.

AI infrastructure spans multiple areas-land and buildings; massive electricity generation capacity and distribution grids; cooling facilities; chips (with continuous upgrades, because yesterday’s chip is already a fossil); memory and storage devices; fibre and spectrum to build networks; software and its upgrades; data centres; physical and cyber security; the availability of skilled talent; and finally, the oxygen of it all-capital.

While we usually think AI infrastructure means “data centre,” the reality is much broader. Power plants must generate electricity. Transmission lines must carry it. Distribution grids must ensure an uninterrupted supply. Fibre must carry data at lightning speed. Spectrum must ensure connectivity. Cooling systems must prevent servers from behaving like overworked pressure cookers in May. Every piece is part of the AI infrastructure ecosystem, often loosely referred to as “data centres.”

While a number of estimates and projections are being discussed, the fast pace of evolution is constantly reshaping them. However, let’s still look at some numbers. India generates roughly 20% of the world’s data but has only about 2% of global data storage and processing capacity. That mismatch is not just a statistic; it is an opportunity knocking loudly.

Going forward, global data centre capacity requirements are estimated at around 250 GW by 2030, of which about 120 GW already exists, and 130 GW of new capacity will be required. If India were to match its 20% share of global data generation, we would need approximately 50 GW of capacity over the next few years.
A rule of thumb suggests that the all-in cost of related infrastructure, both direct and indirect, could be in the region of US$40 billion per GW. Multiply that by 50 GW, and we are staring at an investment requirement of roughly US$2 trillion.For perspective, we still remember the famous infrastructure estimates highlighted in the mid-1990s by Dr Rakesh Mohan, when the required investment numbers seemed astronomical. In 2019, the BJP election manifesto spoke of investing ₹100 lakh crore in infrastructure. At the time, those figures sounded bold. Today, we are discussing almost US$2 trillion (approximately ₹200 lakh crore) for one sector alone-AI infrastructure.

Most of this investment is likely to be driven by the private sector, either independently or in partnership with foreign investors. This could well become the single largest focused private-sector investment theme in India’s history. The key question then is: are we equipped to finance it?

Let’s analyse the nature of the financing requirement. Unlike venture capital bets on apps that may or may not survive the next funding winter, AI infrastructure is largely backed by long-term contracted revenues. A data centre, for instance, is typically leased to a large domestic or global technology service provider under long-term agreements, often spanning 20 to 25 years. This is not very different from a Power Purchase Agreement in the electricity sector, a toll road concession, or a long-term commercial lease. In other words, these are stable, predictable, annuity-like cash flow assets. Pension funds love them. Insurance companies adore them. Sovereign wealth funds feel comfortable investing in them.

Encouragingly, Indian capital markets have matured significantly over the last decade. We now have long-term corporate bond markets steadily deepening. We have REITs and InvITs that allow infrastructure assets to be monetised and refinanced through capital markets. We have seen renewable energy platforms raise billions through public and private markets. The creation of Infrastructure Debt Funds (IDFs) to facilitate take-out financing has also strengthened the ecosystem.

In fact, India is now financing a significant part of private infrastructure spending through capital markets-a structural shift from the earlier era of bank-dominated financing. This diversification is critical when facing multi-trillion-dollar opportunities.

Will everything be smooth? Of course not. Regulatory tweaks will be required. Power distribution reforms must continue. Land acquisition processes must become more efficient. Spectrum policy must remain stable. Tax structures should encourage long-term capital. Cybersecurity frameworks must be robust. Talent development must accelerate. But structurally, the ingredients are falling into place.

There is also a strategic angle. AI infrastructure is not just a commercial opportunity; it is a national competitiveness issue. Countries that host data, control compute power, and build digital capacity will shape the next economic cycle. If India generates 20% of the world’s data but stores only 2%, we are effectively exporting digital raw material and importing digital finished goods. That equation must change.

The good news is that we have done this before. Telecom looked impossible in the 1990s. Renewable energy looked aspirational in the 2000s. Highways seemed ambitious in the early 2000s. Each time, capital markets adapted, innovated, and scaled. AI infrastructure is the next chapter.

Also read: AI sore big tech cos’ artificial splurge eats into stock buybacks

So, is India’s capital market geared up to support the financing needs of AI infrastructure? In my view, yes-with the right policy nudges, regulatory fine-tuning, and institutional participation. Our AI revolution may be coded in silicon, but it will be financed in rupees, increasingly through our capital markets. And if we get this right, the servers may hum quietly in the background, but the economic growth will make a very loud noise indeed.

(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)

Perseus Mining’s

PRU

3.71%

increase; green up pointing triangle chief executive said the gold producer is focused on developing its own growth options after a failed bid for Predictive Discovery

PDI -3.76%

decrease; red down pointing triangle and has no current plans to sell its stake in the Africa-focused explorer.

Australia-listed Perseus in December offered to buy Predictive Discovery in a deal valuing the explorer at more than US$1.3 billion. The proposal was later overtaken by a merger deal with Canada’s Robex Resources.

Bitcoin hovered around the $68,000 mark on Saturday, demonstrating strong resilience and renewed bullish momentum despite fresh U.S. tariff developments. The cryptocurrency was trading at the $67,830 level.

In the past 24 hours, Bitcoin and Ethereum have been up 0.12% and 0.42%, respectively. Among the major altcoins, XRP, BNB, Solana, Tron, Dogecoin, Cardano, and Hyperliquid gained over 3%. The global crypto market capitalisation went up 0.31% to $2.33 trillion, according to CoinMarketCap.

Also Read | NFO Insight: Will TIDE investment strategy of this tech mutual fund help you navigate market volatility?

Nischal Shetty, Founder, WazirX, said price action suggests growing buyer confidence, with RSI trending toward recovery levels and momentum building toward a potential breakout above immediate resistance.

Although some Moving Averages (MA) remain neutral, improving sentiment points to strengthening structure. Ethereum is holding firm around $1,960, consolidating constructively as MACD flattens and momentum stabilises, positioning for a possible upside move, Shetty further said.

In the past week, Bitcoin and Ethereum edged down 1.31% and 4.27%, respectively. Among the major altcoins, XRP, BNB, Solana, Tron, Dogecoin, and Cardano gained over 3%, and Hyperliquid slipped 3.25%.
Riya Sehgal, Research Analyst, Delta Exchange, said Bitcoin is currently trading near $68,000, attempting to break through resistance at $68,000–$68,500. On the hourly chart, price has bounced from the $65,500–$66,000 support zone but remains under key moving averages.
Also Read | Top sectors that witnessed high levels of buying by mutual funds in January

Shetty added that a break below the February 12 low could lead to a larger pullback toward $62,000–$64,000. Ethereum shows a similar setup, consolidating near $1,967 with support around $1,960 and resistance at $1,991–$2,000. Sustained strength above $2,000 could signal a short-term trend reversal.

Since Oct. 10, roughly $8.5 billion has flowed out of US-listed spot Bitcoin exchange-traded funds. Bitcoin has fallen more than 40% even as stocks and precious metals have found buyers, as reported by Bloomberg.

Apple appears poised to refresh its beloved iPad mini lineup in the coming months, with industry reports and supply chain leaks pointing to a potential announcement as early as March 2026. While no official event has been confirmed beyond a “special Apple experience” scheduled for March 4 in New York, London and Shanghai, analysts widely expect the ultraportable tablet to headline the refresh, possibly alongside updated MacBooks and other surprises.

The current iPad mini, powered by the A17 Pro chip and featuring an 8.3-inch Liquid Retina display, launched in October 2024 with pre-orders opening immediately and availability starting October 23. Priced from $499 for the 128GB Wi-Fi model, it introduced Apple Intelligence support, compatibility with Apple Pencil Pro and doubled base storage from prior generations. In 2026, the device continues to hold strong appeal for users seeking a compact, powerful tablet for reading, note-taking and media consumption.

However, anticipation builds for the next iteration — tentatively dubbed iPad mini 8 — amid conflicting rumors on timing and features. Bloomberg’s Mark Gurman and supply chain sources like Instant Digital suggest a launch window in the second half of 2026, potentially fall, while earlier speculation from Tom’s Guide and others floated an early 2026 debut alongside spring iPhone updates like the rumored iPhone 17e. Recent MacRumors reports, dated February 17, 2026, indicate no firm date but note a possible tie-in with new iPad Air models in the first half of the year.

Key upgrades expected include a shift to OLED display technology, a major leap from the current LCD panel. Multiple sources, including ET News, ZDNET Korea and Display Supply Chain Consultants, confirm Samsung Display has begun developing OLED panels for the iPad mini, with mass production slated for late 2025. This would deliver deeper blacks, higher contrast, better energy efficiency and potentially ProMotion 120Hz refresh rates — features previously reserved for iPad Pro models. Bloomberg has suggested the OLED iPad mini could arrive as soon as 2026, possibly before the iPad Air gets the same treatment in 2027.

Performance upgrades are also on the table. If launched early in 2026, the device could feature an A19 Pro chip for enhanced CPU/GPU speeds and Neural Engine capabilities, boosting Apple Intelligence features like on-device AI processing. A later 2026 release might incorporate the even more advanced A20 Pro. Additional rumored enhancements include improved water resistance — a first for iPad mini — and continued support for accessories like Apple Pencil Pro and Magic Keyboard Folio.

Pricing remains a point of speculation. The current model starts at $499, but Bloomberg analysts have warned the OLED transition and other premium features could push the base price up by $100 or more, potentially to $599. This would align with Apple’s strategy for display upgrades in flagship lines but could face pushback from budget-conscious buyers competing against cheaper Android tablets.

The iPad mini’s enduring popularity stems from its pocketable 8.3-inch form factor, all-day battery life and full iPadOS experience in a device that fits easily in bags or large pockets. It appeals to students, professionals and casual users who prefer something smaller than the standard iPad or iPad Air. In 2026 reviews and forums, owners praise its portability for travel, e-reading and creative work, though some lament the lack of OLED and higher refresh rates compared to Pro models.

Apple’s March 4 event, described as an in-person “experience” rather than a streamed keynote, has fueled speculation of staggered launches. Past March announcements have included iPads, MacBooks and accessories, setting precedent for spring hardware drops. If the iPad mini refreshes then, pre-orders could begin immediately via apple.com and the Apple Store app, with shipping in late March or early April — mirroring the 2024 pattern.

For now, the current iPad mini remains available for purchase starting at $499, with trade-in options and financing through Apple Card. It runs iPadOS 18 (and upcoming updates) with robust Apple Intelligence integration for writing tools, image generation and more.

As leaks intensify, fans monitor supply chain reports from Samsung and display analysts for confirmation. Whether the next iPad mini arrives in spring or fall, expectations are high for a device that combines the series’ signature compactness with modern display and performance upgrades.

Consumers eager for the latest should watch Apple’s channels closely in the coming weeks. Pre-orders, when they open, are expected to sell out quickly given the model’s cult following and long-awaited refinements.

If GIFT Nifty is any indicator of what lies ahead for the stock markets, investors can expect fireworks when trading resumes on Monday following the US Supreme Court’s Friday decision striking down Donald Trump’s sweeping tariffs. The GIFT Nifty settled 320 points, or 1.25% higher, at 25,886.

Investors should watch out for export-facing sectors like gems and jewellery, textiles, marine products and pharma, where the US administration had imposed a 100% tariff on patented and branded drugs, and the auto sector.

Kranthi Bathini, Director – Equity Strategy at WealthMills Securities, called this a big sentiment booster for Indian markets while a blow to the Trump administration. His tariffs created a lot of uncertainty and ambiguity for the world, he added.

He, however, cautioned investors to watch the developments over the next few days and what the Trump administration will do as a “face saving” measure. He said that Trump weaponised tariffs and even the 10% global tariff must also be vetted by the US Congress. Since trade does not come under the purview of emergency measures, his follow-up decisions will also be subject to scrutiny, he opined.

Following the SC decision, Trump signed documents to impose a 10% tariff on imports from all countries, which he said will be “effective almost immediately.”

“It is my Great Honor to have just signed, from the Oval Office, a Global 10% Tariff on all Countries, which will be effective almost immediately,” he said in a post on Truth Social.
While the 18% tariff burden is likely off India’s back, more details will emerge in due course. But the new global tariff of 10% applies on Indian goods for now. An ANI report quoting a White House official said that India will have to pay 10% until another authority is invoked. “Yes, 10% until another authority is invoked.”Market veteran Gurmeet Chadha also welcomed the US Supreme Court’s decision, saying, “Supreme Court ruling on tariffs is welcome news especially for under-owned markets like India. This is also a political setback with midterms approaching and low approval ratings.”

“Focus will shift on boosting the economy, lowering inflation. Means lesser global uncertainty and flip-flops,” the Managing Partner and CIO at Complete Circle Consultants said in a tweet.

Also read: Trump made tariffs central to his presidency. Chaos may come next

SC ruling on India: what it means for markets?

“Removal of reciprocal tariffs will free about 55% of India’s exports to the US from 18% duty, leaving them subject only to standard MFN tariffs,” Global Trade Research Initiative (GTRI) analysis said, as reported.

According to the think tank, Section 232 tariffs will continue, 50% on steel and aluminium and 25% on auto components. Meanwhile, products accounting for roughly 40% of export value, including smartphones, petroleum products and medicines, will remain exempt from US tariffs, the report said further, citing the GTRI analysis.

So, investors should track movement of metal stocks for likely disappointment while monitoring the EMS and generic pharma space as well.

Reacting to the ruling, frontline indices on Wall Street also ended higher, with the Dow 30 closing with gains of 0.5%. The S&P 500 index and Nasdaq Composite finished with an uptick of 0.70% and 0.90%.

Also read: US Supreme Court ruling overturning Trump tariffs could spook bond vigilantes

(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)

TOKYO—Japan’s consumer prices rose at a slower pace in the first month of 2026, giving the central bank more breathing room to consider its next step.

Consumer inflation, excluding volatile fresh food prices, climbed 2.0% in January from a year earlier, compared with December’s 2.4% rise, government data showed Friday.

Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8