AirTrunk—the data center operator founded by Australian billionaire Robin Khuda—is buying Lumina CloudInfra to expand in India, as the world’s most populous country sees rapid growth in AI demand.

Lumina was founded by U.S. private equity giant Blackstone, which also holds a significant stake in AirTrunk. It has 600 megawatts of planned data center capacity and up to $5 billion in development potential, AirTrunk said in a statement on Monday. The value of the deal was not........

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