Business
What’s the big deal about AI data centres?
Michael DempseyTechnology Reporter
Getty ImagesIt’s such a big number that it’s hard to imagine. Worldwide, around $3tn (£2.2tn) will be spent on data centres that support AI between now and 2029.
That estimate comes from the investment bank Morgan Stanley, which adds that roughly half of that sum will go on construction costs, and half on the pricey hardware supporting the AI revolution.
To put that number into perspective, that’s roughly what the entire French economy was worth in 2024.
In the UK alone, it’s estimated that another 100 data centres will be built over the next few years to meet the demand for AI processing.
Some of those will be built for Microsoft which earlier this month announced $30bn (£22bn) investment in the UK’s AI sector.
Just what is it about AI data centres that’s different from the traditional building containing ranks of computer servers that keeps our personal photos, social media accounts and work applications humming away?
And are they worth this terrific spending spree?
Data centres have been growing in size for years. A new term, hyperscale, was coined by the tech industry to describe sites where the power requirement runs into tens of megawatts, before gigawatts, a thousand times bigger than megawatts, came on the scene.
But AI has supercharged this game. Most AI models rely on expensive computer chips from Nvidia to process tasks.
Nvidia chips come in large cabinets costing around $4m each. And these cabinets hold the key to why AI data centres are different.
The Large Language Models (LLMs) that train up AI software have to break language into every possible tiny element of meaning. That is only possible with a network of computers working in unison and in extremely close proximity.
Why is proximity so important? Every metre of distance between two chips adds a nanosecond, one billionth of a second, to the processing time.
It might not sound like much time, but when a warehouse full of computers is whirring away these microscopic delays pile up and dilute the performance needed for AI.
The AI processing cabinets are jammed in together to eliminate this element of latency and create what the tech sector calls parallel processing, operating as one enormous computer. It all spells out density, a magic word in AI construction circles.
Density eliminates the processing bottlenecks that regular data centres see from working with processors sitting several metres apart.
Bloomberg via Getty ImagesHowever, those dense ranks of cabinets eat up gigawatts of power and LLM training produces spikes in that appetite for electricity.
These spikes are equivalent to thousands of homes switching kettles on and off in unison every few seconds.
This type of irregular demand on a local grid needs to be carefully managed.
Daniel Bizo of data centre engineering consultancy The Uptime Institute analyses data centres for a living.
“Normal data centres are a steady hum in the background compared to the demand an AI workload makes on the grid.”
Just like those synchronised kettles sudden AI surges present what Mr Bizo calls a singluar problem.
“The singular workload at this scale is unheard of,” says Mr Bizo, “it’s such an extreme engineering challenge, it’s like the Apollo programme.”
Data centre operators are getting around the energy problem in various ways.
Speaking to the BBC earlier this month, Nvidia CEO Jensen Huang said that in the UK in the short term he was hoping that more gas turbines could be used “off the grid so we don’t burden people on the grid”.
He said AI itself would design better gas turbines, solar panels, wind turbines and fusion energy to produce more cost effective sustainable energy.
Microsoft is investing billions of dollars in energy projects, including a deal with Constellation Energy that will see nuclear power produced again on Three Mile Island.
Google, owned by Alphabet, is also investing in nuclear power as part of a strategy to run on carbon-free energy by 2030.
Meanwhile Amazon Web Services (AWS), which is part of the retail giant Amazon, says it is already the single largest corporate buyer of renewable energy in the world.
Bloomberg via Getty ImagesThe data centre industry is acutely aware that legislators are keeping an eye on the downsides of AI factories with their intense energy use having a potential impact on local infrastructure and the environment.
One of these environmental impacts includes a hefty supply of water to cool toiling chips.
In the US state of Virginia, home to an expanding population of data centres that keep tech giants like Amazon and Google in business, a bill tying approval of new sites to water consumption figures is under consideration.
Meanwhile a proposed AI factory in northern Lincolnshire in the UK has run into objections from Anglian Water, which is responsible for keeping taps on in the area of the proposed site.
Anglian Water points out that it is not obliged to supply water for non-domestic use and suggests recycled water from the final stage of effluent treatment as a coolant rather than drinking water.
Given the practical problems and enormous costs AI data centres face, is the whole movement really one big bubble?
One speaker at recent data centre conference coined the term “bragawatts” to describe how the industry is talking up the scale of proposed AI sites.
Zahl Limbuwala is a data centre specialist at tech investment advisors DTCP. He acknowledges big questions around the future of AI data centre spending.
“The current trajectory is very difficult to believe. There has certainly been a lot of bragging going on. But investment has to deliver a return or the market will correct itself.”
Bearing these cautions in mind, he still believes AI merits a special place in investment terms. “AI will have more impact than previous technologies, including the internet. So it’s feasible we’ll need all those gigawatts.”
He notes that bragging apart, AI data centres “are the real estate of the tech world.” Speculative tech bubbles such as the dotcom boom of the 1990s lacked a bricks and mortar base. AI data centres are very solid. But the spending boom behind them cannot last forever.
Business
Ask Dhirendra: ‘If I know markets go up in the long run, why do short-term losses bother me so much?’ – The Times of India
“‘If I know markets go up in the long run, why do short-term losses bother me so much?’This is one of the most honest questions an investor can ask.On paper, you know the logic. You’ve seen all the charts: “Sensex 100 to 70,000”, “Nifty over 20–25 years”, “equity beats inflation in the long run”. You nod wisely when someone says, “Equity is for the long term.”And then one fine day, you open your app, see your portfolio down 8–10 per cent, and your stomach drops.The mind says, “Long term”.The heart says, “Bas, ab yeh band karo.”Let’s start with some sympathy: there is nothing wrong with you. Your brain is not designed for SIPs; it is designed for survival.When our ancestors saw red (blood, fire, and danger) the correct response was to panic and run. Today, your app shows red numbers, and your brain uses the same wiring: “Danger, danger, get out.” The problem is that the stock market is the only place where running at the wrong time converts a temporary fall into a permanent loss.It helps to see what “short term” and “long term” actually look like in numbers.
The market tests patience before it rewards it
When we look at this kind of data at Value Research, the pattern is always similar. Over the course of a year, losses are frequent. Over ten-year periods, they shrink dramatically. So the market is not misbehaving when it falls in a single year. It’s behaving exactly like a market. It is unrealistic to expect a smooth, linear upward graph.There’s another uncomfortable truth. You don’t look at your portfolio like a long-term investor; you look at it like a daily scorecard. Every time you open the app, the number on top becomes a verdict on your intelligence. Up means “I am smart”; down means “I am stupid.” Of course, you don’t want to feel stupid for three months in a row.Now we put some more structure on this feeling.Imagine you start a ₹10,000 monthly SIP in a good, diversified equity fund for 15–20 years. Somewhere along the way, there is a year when the market is down 20 per cent.There are only three things that can happen in that year:
- You panic and stop your SIP or redeem.
- You grit your teeth and do nothing.
- You not only continue but increase your investments.
The cost of doing the wrong thing at the wrong time
When we run such scenarios at Value Research, the surprising part is this: the investor who simply does nothing in bad years often beats the one who keeps jumping around trying to avoid pain.So why can’t we “do nothing” easily?Partly because we confuse volatility with failure, a minus 10 per cent year feels like a verdict on our choice rather than a normal part of the journey. And partly because we mix up time horizons. We say, “This is for my retirement in 2045,” and then behave as if the performance over the last 45 days is all that matters.One practical way to calm yourself is to separate money by purpose. If you put all your money into the market and then need some of it next year, of course, every fall will feel catastrophic. But if you’ve done the boring work—kept an emergency fund, kept short-term money in safer avenues—then the equity money is truly long-term. You’re not going to need it next Diwali, so you don’t have to judge it every Diwali.Another trick is to change what you watch.Instead of staring at the absolute value, look at two different things:
- How much time do you have left before you actually need this money?
- How much of your target have you already accumulated?
At Value Research, our planning tools and advice try to shift people from “portfolio value today” to “probability of meeting your goal over time”. It’s much easier to tolerate a bad year in the market if you see that you’re still broadly on track for your long-term destination.And finally, accept this: you don’t have to enjoy seeing losses. You just have to not overreact to them. The test of a good investment is not whether it goes up every quarter; it’s whether it helps you reach your goals over ten or twenty years, without making you do something foolish in between.So if you know markets go up in the long run but short-term losses still bother you, that just means you’re human. Good. Stay human. Just put a system around your humanity:
- Keep your emergency and near-term money out of harm’s way.
- Use equity only for genuinely long-term goals.
- Decide your SIPs when you are calm, and refuse to renegotiate them with your panicked future self.
Red numbers on a screen are not a verdict on your intelligence. Most of the time, they’re just the market’s way of asking, “Did you really mean it when you said long term?”If the answer is yes, close the app and let time do the arguing for you.If you have any queries for Dhirendra Kumar you can drop us an email at: toi.business@timesinternet.in(Dhirendra Kumar is Founder and CEO of Value Research)
Business
Shyam Dhani Industries IPO Allotment Today: GMP At 100%; A Step-By-Step Guide To Check Status
Last Updated:
Unlisted shares of Shyam Dhani Industries are trading at Rs 140 apiece in the grey market, indicating 100% grey market premium (GMP) against the IPO issue price of Rs 70.
Shyam Dhani Industries IPO.
Shyam Dhani Industries IPO Allotment Date & Latest GMP: The allotment of the Shyam Dhani Industries IPO, which closed on Wednesday with a whopping 988.29x subscription, is scheduled to be finalised today, December 26. Investors will receive a bank debit or an unblock message once the allotment is finalised in the evening. They can also check the allotment status on the websites of the BSE, the NSE, and registrar Bigshare Services Pvt Ltd.
The Shyam Dhani Industries IPO received a blockbuster 988.29x subscription, garnering bids for 3,61,51,72,000 shares as against the 36,58,000 shares on offer. Its retail category got a 1,137.92x subscription, while its non-institutional investor (NII) quota got a 1,612.65x subscription. The QIB category received a 256.24x subscription.
Shyam Dhani Industries IPO GMP Today
According to market observers, unlisted shares of Shyam Dhani Industries Ltd are currently trading at Rs 140 apiece in the grey market, against the upper IPO price of Rs 70. It means 100% grey market premium (GMP), indicating blockbuster listing potential. Its listing will take place on December 30.
The GMP is based on market sentiments and keeps changing. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Shyam Dhani Industries IPO Allotment Today: A Step-By-Step Guide To Check Status Online
The Shyam Dhani Industries IPO allotment is expected to be finalised today, December 26, in the evening. The allotment status can be checked online by following these steps:
1) Visit registrar Bigshare Services’ portal – https://ipo.bigshareonline.com/ipo_status.html.
2) Under ‘Select Company’, select ‘Shyam Dhani Industries Ltd’ from the drop-box.
3) Enter your application number, demat account, or permanent account number (PAN).
4) Enter Captcha
5) Then, click on the ‘Search’ button.
Your share application status will appear on your screen.
Via the BSE
1) Go to the official BSE website via the URL — https://www.bseindia.com/investors/appli_check.aspx.
2) Under ‘Issue Type’, select ‘Equity’.
3) Under ‘Issue Name’, select ‘Shyam Dhani Industries Ltd’ in the drop box.
4) Enter your application number, or the Permanent Account Number (PAN). Those who want to check their allotment status via PAN can select the ‘Permanent Account Number’ option.
5) Then, click on the ‘I am not a robot’ to verify yourself and hit the ‘Search’ option.
Your share application status will appear on your screen.
Via NSE’s Website
The allotment status can also be checked on the NSE’s website at https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids.
Shyam Dhani Industries IPO: More Details
Shyam Dhani Industries aimed to raise Rs 38.49 crore through a book-built IPO, comprising a fresh issue of 0.55 crore equity shares. The public issue opened for subscription on December 22, 2025, and closed on December 24, 2025, with allotment likely to be finalised on December 26. The company is scheduled to debut on the NSE SME platform, with a tentative listing date of December 30, 2025.
The IPO was priced in the range of Rs 65–70 per share.
Founded in 1995, Shyam Dhani Industries Limited is an ISO-certified company engaged in the manufacturing, exporting, wholesale trading, and supply of premium spices. Its product portfolio includes spice powders and whole spices, along with grocery items such as black salt, rock salt, rice, poha and kasuri methi. The company also deals in herbs and seasonings like oregano, peri peri, chilli flakes, mixed herbs, onion flakes and tomato powder.
Financially, the company reported a 16 per cent rise in revenue and a 28 per cent increase in profit after tax in FY25 compared with the previous financial year.
Holani Consultants Pvt. Ltd. is acting as the book running lead manager as well as the market maker for the issue, while Bigshare Services Pvt. Ltd. has been appointed as the registrar.
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December 26, 2025, 11:22 IST
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New Delhi: Indian Railways has rationalised its passenger fare structure with effect from December 26, to balance affordability for passengers and sustainability of its operations, the Ministry of Railways said in a statement on Thursday. The ministry clarified that under the revised fare structure, there is no change in fares for suburban services and season tickets, including both suburban and non-suburban routes.
For Ordinary Non-AC (Non-Suburban) services, fares have been rationalised in a graded manner across Second Class Ordinary, Sleeper Class Ordinary, and First Class Ordinary. In Second Class Ordinary, there is no increase in fare for journeys up to 215 km, ensuring that short-distance and daily commuters are not impacted.
For distances from 216 km to 750 km, the fare increases by Rs 5. For longer journeys, the increase is applied in steps — Rs 10 for distances between 751 km and 1250 km, Rs 15 for distances between 1251 km and 1750 km, and Rs 20 for distances between 1751 km and 2250 km, the statement explained.
In Sleeper Class Ordinary and First Class Ordinary, fares have been revised uniformly at the rate of 1 paise per kilometre for non-suburban journeys, ensuring a gradual and limited increase in fares.
In Mail and Express trains, the fare increase has been rationalised at 2 paise per kilometre across Non-AC and AC classes. This includes Sleeper Class, First Class, AC Chair Car, AC 3-Tier, AC 2-Tier, and AC First Class. As an illustration, for a 500 km journey in non-AC Mail and Express coaches, passengers will pay only about Rs 10 extra, the statement further explains.
The existing basic fares of major train services, including Tejas Rajdhani, Rajdhani, Shatabdi, Duronto, Vande Bharat, Humsafar, Amrit Bharat, Tejas, Mahamana, Gatimaan, Antyodaya, Garib Rath, Jan Shatabdi, Yuva Express, Namo Bharat Rapid Rail, and Ordinary non-suburban services (excluding AC MEMU/DEMU, where applicable), have been revised in line with the approved class-wise basic fare increases. The revision has been carried out uniformly and in a calibrated manner across applicable classes, the statement said.
Notably, no changes have been made in reservation fees, superfast surcharges, or other ancillary charges, which will continue to be levied as per existing rules. GST applicability remains unchanged, and fares will continue to be rounded off according to prevailing norms, the statement pointed out.
The revised fares are applicable only on tickets booked on or after 26 December 2025. Tickets booked before this date will not attract any additional charges, even if the journey is undertaken after the effective date, the statement further explained.
The fare list displayed at stations will also be updated to reflect the new fares effective from December 26, the statement added.
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