Neysa, an Indian AI infrastructure startup, has secured backing from U.S. private equity firm Blackstone as it scales domestic compute capacity amid India’s push to build homegrown AI capabilities. Blackstone and co-investors, including Teachers’ Venture Growth, TVS Capital, 360 ONE Asset, and Nexus Venture Partners, have agreed to invest up to $600 million of primary equity in Neysa, giving Blackstone a majority stake, Blackstone and Neysa told TechCrunch. The Mumbai-headquartered startup also plans to raise an additional $600 million in debt financing as it expands GPU capacity, a sharp increase from the $50 million it had raised previously. The deal comes as demand for AI computing surges globally, creating supply constraints for specialized chips and data center capacity needed to train and run large models. Newer AI-focused infrastructure providers — often referred to as “neo-clouds” — have emerged to bridge that gap by offering dedicated GPU capacity and faster deployment than traditional hyperscalers, particularly for enterprises and AI labs with specific regulatory, latency, or customisation requirements. Neysa operates in this emerging segment, positioning itself as …