Nvidia signs record Bengaluru office lease as India AI push accelerates

Nvidia signs record Bengaluru office lease as India AI push accelerates

Nvidia has signed a 10-year lease for approximately 760,000 square feet of office space in Bengaluru, marking the largest single-tenant office commitment in India to date. The space, located at Bagmane Capital's Memphis South Tower in Mahadevpura, spans 12 floors and will serve as a major hub for the company's expanding artificial intelligence (AI) and engineering operations. The lease, effective April 1, carries a monthly rent of about INR859 million (approx. US$9.1 million), or INR113 per square foot, with a 15% escalation every three years and a security deposit of INR343.5 million. Over the full term, the deal is valued at more than INR12 billion, based on registration data cited by The Economic Times and CNBC-TV18. The agreement was executed through Nvidia's Indian subsidiary. The scale of the transaction reflects both Nvidia's rapid growth and sustained demand for large, high-quality office spaces in India's technology hubs. Raja Seetharaman, co-founder of Propstack, described the deal as "a strong testament to India's role in the global AI ecosystem," according to Analytics India. India footprint expands amid rising global AI demand The Bengaluru lease nearly doubles Nvidia's known office footprint in India, bringing its total presence across Bengaluru and Pune to more than 1.13 million square feet. The company had previously renewed a 375,000-square-foot lease in Pune in 2024, which remains a key center for research and development in areas such as graphics processing, cloud computing, and autonomous vehicles. Nvidia's operations in India now span six cities, including Hyderabad, Gurugram, Mumbai, and New Delhi, highlighting the breadth of its engineering and business activities in the country. The expansion aligns with Nvidia's broader strategy to tap into India's deep engineering talent pool as global demand for AI infrastructure continues to surge. The company has also been actively involved in India's AI ecosystem through partnerships, including deployments of advanced GPUs and infrastructure projects to build large-scale AI capacity. Strategic signal for India's role in global AI ecosystem The size and duration of the lease indicate a long-term commitment to India as a critical node in Nvidia's global operations. According to CNBC-TV18, the transaction is closely tied to the company's expanding AI-related work and reflects confidence in the country's role in supporting next-generation computing technologies. Market participants noted that such large-scale real estate commitments by global technology firms reinforce Bengaluru's position as a leading destination for semiconductor and AI-related investment. As AI workloads grow and chip demand accelerates, India's combination of talent, infrastructure, and policy support is increasingly seen as central to global expansion strategies.

Nvidia doubles down on India: 7.6 lakh sq ft Bengaluru deal its single largest setup as chipmaker accelerates India plans

Chipmaker Nvidia has secured a massive 7,60,000 sq ft office space in Bengaluru. This 10-year lease is India's largest office commitment to date. The deal significantly expands Nvidia's presence in India, now totaling over 11.35 lakh sq ft across six cities. This expansion fuels its global AI demand and leverages India's engineering talent. Bengaluru: Chipmaker Nvidia has signed a 10-year lease for 7,60,000 sq ft at Bagmane Capital's Memphis South Tower, Mahadevpura, in the single largest office commitment in India to date, and one of the biggest single-tenant tech leases executed in Bengaluru. The transaction nearly doubles Nvidia's known India office footprint, taking its combined Bengaluru-Pune presence to over 11.35 lakh sq ft, with the GPU giant's bet on Indian engineering talent accelerating as it scales capacity to meet surging global AI demand. According to registration data sourced by Propstack, the deal is effective from April 1, 2026. At Rs 113 per sq ft per month, the monthly rent stands at Rs 8.59 crore, with 15% escalation every three years and a security deposit of Rs 34.35 crore. "Across its full tenure, the deal is valued at well over Rs 1,200 crore," the document noted. Also Read | Nvidia becomes first company to cross $5 trillion in market cap The Bengaluru deal is the latest in a series of real estate leases closed by the firm. In September 2024, Nvidia had renewed its lease for 3,75,000 sq ft -- eight floors -- at Commerzone Yerwada in Pune, signing a fresh 10-year agreement with Mindspace Business Parks REIT at Rs 81 per sq ft per month. The Pune campus, the original anchor of Nvidia's India R&D operations, houses teams focused on graphics processing, cloud computing, and autonomous vehicles. "With the Bengaluru transaction, Nvidia has nearly doubled its known office footprint in India in under two years. Bengaluru and Pune combined now account for over 11.35 lakh sq ft of leased space -- placing Nvidia among the more consequential occupiers in India's Grade-A tech real estate market," said a person in the know. The company's India footprint now spans six cities -- Bengaluru, Pune, Hyderabad, Gurugram, Mumbai, and New Delhi. Also Read | Nvidia rolls out OpenAI's Codex AI agent to all employees The expansion is consistent with Nvidia's broader India play. Beyond its own offices, the company is deeply embedded in India's sovereign AI infrastructure push -- with partners like Yotta deploying over 20,000 Nvidia Blackwell Ultra GPUs and L&T building gigawatt-scale AI factory infrastructure across Chennai and Mumbai. Nvidia's CEO Jensen Huang projected cumulative demand for Nvidia's Blackwell and Vera Rubin chip architectures would reach at least $1 trillion through the end of 2027 -- doubling his prior estimate of $500 billion through 2026. Experts say that India's engineering talent pipeline is clearly central to that ambition -- and the lease trail is the most tangible proof of that conviction. (You can now subscribe to our Economic Times WhatsApp channel)