Infosys Awarded Contract of USD 1.5 Billion To capitlize AI Solution

CIOTechOutlook Team | Friday, 15 September 2023, 08:42 IST

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Infosys, India's second-largest software services exporter, announced a $1.5 billion contract with a "global company" for a 15-year period. According to the terms of the agreement, Infosys will provide enhanced digital experiences and business operation services by using the company's platforms and artificial intelligence (AI) solutions.
 
Earlier in the month, U.S. chip maker Nvidia announced AI partnerships with Indian conglomerate Reliance Industries and the Tata group's Tata Consultancy Services to develop generative applications, as per reuters.
 
Infosys inked a $2 billion deal with an existing client in July to supply AI and automation services for the next five years. Shares of the company were up 0.4%, bringing the stock's losses this year to 0.1%, compared to a 15.46% advance in the Nifty IT index.
 
Infosys, founded in 1981, is a NYSE-listed worldwide consulting and IT services firm with over 336k workers. We began with a US$250 investment and have grown to a US$ 18.38 billion (LTM Q1 FY24 revenues) corporation with a market valuation of roughly US$ 67 billion.
 
On August 24, 2021, Infosys became the fourth Indian firm to reach a market valuation of $100 billion. It is one of the leading Big Tech (India) firms.
 
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