India's Infosys signs $1.5 billion contract to leverage AI solutions


FILE PHOTO: An employee walks past a signage board in the Infosys campus at the Electronics City IT district in Bangalore, February 28, 2012. REUTERS/Vivek Prakash/File Photo

BENGALURU (Reuters) - India's second-largest software services exporter Infosys said it signed a $1.5 billion contract for a 15-year period with a "global company".

Under the deal, Infosys will provide enhanced digital experiences and business operation services, leveraging the company's platforms and artificial intelligence (AI) solutions, it said on Thursday.

Infosys did not name the company nor mention whether it is an existing client.

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.

In July, Infosys signed a $2 billion deal with an existing client to provide AI and automation services for five years.

Shares of the company were marginally high at 0.4%, trimming the stock's losses to 0.1% so far this year compared to a 15.46% rise in the Nifty IT index.

(Reporting by Manvi Pant in Bengaluru; Editing by Janane Venkatraman)

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

   

Next In Tech News

Sirius XM found liable in New York lawsuit over subscription cancellations
US Supreme Court tosses case involving securities fraud suit against Facebook
Amazon doubles down on AI startup Anthropic with $4 billion investment
Factbox-Who are bankrupt Northvolt's creditors?
UK should use new powers to probe Apple-Google mobile browser duopoly, report says
EU regulators scrap probe into Apple's e-book rules after complaint was withdrawn
Hyundai recalls over 145,000 electrified US vehicles on loss of drive power
'World of Warcraft' still going strong as it celebrates 20 years
Northvolt CEO steps down, saying group needs up to $1.2 billion
Bitcoin at record highs, sets sights on $100,000

Others Also Read