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From GPUs to LLMs, India’s AI stack is deeply global—making ‘sovereign AI’ more aspiration than reality.

The retired banker wants India’s top companies to invest in AI. But the capital, ambition, and urgency simply aren’t there.
Most business-to-business companies waiting to list on the public markets have a problem that prospective investors should be aware of: severe indebtedness.
The AI startup’s $100 million ARR claim does not quite add up even as Dream11—forced out of real-money gaming—prepares to take its massive user base into stockbroking.