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India’s AI IPO opportunity: Goldman Sachs sees $50-100 billion potential

India's artificial intelligence ecosystem could be heading towards a major public market opportunity. Goldman Sachs has identified 84 private AI contenders valued at around US$55 billion and estimates that potential listings could add US$50 billion to US$100 billion in market capitalisation over the next two to five years. AI infrastructure companies, including data centres, semiconductors and cloud services, could account for the largest share of the opportunity. However, the estimate is based on illustrative assumptions, not a confirmed IPO pipeline.