Mumbai, Feb. 16 -- Global private equity firm Blackstone, along with other investors, has acquired a majority stake in India's artificial intelligence (AI) cloud platform Neysa as the company seeks to raise $1.2 billion in a mix of debt and equity to fund its expansion plans.

The company has raised $600 million in equity capital, and Neysa is seeking to secure an additional $600 million in debt financing led by Blackstone. Other equity investors in this transaction include Teachers' Venture Growth, TVS Capital, 360 ONE Assets and Nexus Ventures.

The funds will be used to accelerate the company's growth trajectory and provide a material impetus to Neysa's planned scale-up and deployment of over 20,000 graphics processing units (GPUs) in ...