Infosys Inks $2-Billion AI, Automation Services Pact With A 'Strategic' Client

Infosys Ltd. said it has won a contract from a “strategic” client to provide AI and automation services over five years, entailing a targeted spending of $2 billion.

The agreement includes AI and automation-led development, modernisation and maintenance services, according to an exchange filing. The company didn’t disclose the identity of the client.

Infosys and peers like Tata Consultancy Services and Wipro Ltd. are ramping up AI offerings as companies globally are adopting technology after ChatGPT demonstrated the power of artificial intelligence. Infosys unveiled its maiden AI-first offering called Topaz in May to make the most of the global interest in the technology. It merges the IT services firm’s cloud and data analytics capabilities.

Infosys is expected to announce its quarterly earnings on July 20.

Shares of Infosys ended 0.1% lower compared with a 0.75 rise in benchmark Nifty 50 on Monday.