Summary of this article
A global AI stock rout dragged Indian data centre and infrastructure stocks lower
Sterlite Tech, HFCL and MTAR Tech were among the biggest losers
Despite the sell-off, billions of dollars continue flowing into India’s data centre sector
The global sell-off in artificial intelligence (AI)-linked stocks spilled over to Indian equities on June 8, 2026, dragging down shares of companies seen as beneficiaries of the data centre and AI infrastructure boom.
While India lacks listed pure-play AI companies, investors have increasingly gravitated towards data centre, networking and digital infrastructure stocks as proxies for the AI theme, given that the rapid adoption of AI applications is driving demand for data centres, connectivity and power infrastructure.
Among the biggest losers in today's session was Sterlite Technologies (STL), which hit the 5 per cent lower circuit at Rs 588.30 on the NSE. The optical fibre and network solutions provider, backed by the Vedanta Group, has surged more than 550 per cent so far in 2026, aided by strong investor interest in AI-related infrastructure plays and a recently announced $1.1 billion multi-year deal with a US hyperscaler.
Peer HFCL also hit its 5 per cent lower circuit limit at Rs 177.85 apiece. The telecom equipment and optical fibre company, another key beneficiary of rising data centre investments, has rallied over 200 per cent year-to-date (YTD).
MTAR Technologies, which supplies precision cooling and power management components used in data centre infrastructure, fell more than 8 per cent. It had rallied around 250 per cent YTD.
The weakness extended across the broader AI infrastructure ecosystem. Netweb Technologies, which supplies high-performance computing servers and AI infrastructure solutions, plunged 8.27 per cent to Rs 4,279.70, making it one of the worst-performing AI-linked stocks of the day.
Cloud computing and AI platform provider E2E Networks fell 5 per cent to Rs 430.30, while real estate developer Anant Raj, which has been expanding into the data centre business, declined 5.73 per cent to Rs 537.30.
Black Box, a digital infrastructure and network solutions company that supports data centre and enterprise connectivity projects, also slipped 6.22 per cent to Rs 1,006.20 apiece.
What Triggered Global AI Sell-Off
This correction comes after a dramatic decline seen in US technology stocks. The Nasdaq Composite index last week on June 5 had fallen over 4.50 per cent after the semiconductor and AI infrastructure making company Broadcom's earnings failed to meet investor expectations. Although the chipmaker reported better-than-expected quarterly revenue and profit, it left its 2027 AI revenue guidance unchanged, disappointing investors who had anticipated a stronger outlook amid surging demand for agentic AI applications.
The unchanged guidance raised concerns that AI-related capital expenditure may not accelerate as rapidly as markets had priced in, triggering profit-booking across AI and technology stocks globally after a months-long rally.
Data Centre Investments In India
The sell-off comes even as India continues to attract substantial investments in AI and cloud infrastructure. According to a Bloomberg report, Amazon plans to invest $12.7 billion in cloud infrastructure in India by 2030, while Alphabet is said to be investing around $15 billion in an AI infrastructure project in Visakhapatnam.
Meanwhile, a Reliance Industries-led data centre venture signed an $11 billion deal last year, and AdaniConnex has partnered with global technology companies such as Google and Uber to build and expand data centre capacity in the country.
