- Nifty IT index rose nearly 4% intraday led by gains in major Indian tech stocks
- TCS, Infosys, Wipro, and HCL Technologies shares rallied between 1.7% and 4.5%
- Nvidia CEO Huang highlighted AI as a growth driver, not a threat to software jobs
The Nifty IT index jumped nearly 4% intraday on Monday, June 1, powered by the momentum gained by India's leading tech giants Nvidia CEO Jensen Huang affirmed that Indian IT firms are well-placed for AI implementation at Nvidia's GTC Taipei Keynote at COMPUTEX 2026 Event. Shares of Tata Consultancy Services, Infosys, Wipro, and HCLTechnologies rallied 2-4% driving the Nifty IT index 4% higher to hit an intraday high of 30,177.50 so far during the session amid the global AI rally.
Shares of TCS rallied 3.37%, Infosys rallied 4.47% intraday, Wipro gained 1.71%, and HCLTechnologies rallied 2.38% so far during the session. At the Computex 2026 event, Nvidia's Huang dispelled concerns that artificial intelligence might render traditional coding obsolete. He rejected fears of AI replacing software, instead emphasized that it will create the largest opportunity ever for software companies. Huang noted that emerging AI agents fundamentally rely on robust enterprise software to operate and interact. The global software demand continues to support a strong overall IT spending outlook.
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As a result, Indian IT firms find themselves exceptionally well-positioned to capitalize on this structural shift, poised to act as key enablers in widespread AI implementation for enterprises worldwide, according to Nvidia's Chief. The global AI investment frenzy gained further momentum after Huang reiterated the massive AI infrastructure opportunity during the Computex keynote at Taiwan. The long-term expansion narrative is being heavily boosted by the emerging "AI factories" theme and an anticipated shift toward Agentic AI, which is expected to massively increase global compute and storage demand.
As the AI tech wave reshapes the broader sector, domestic companies such as E2E Networks, Anant Raj, and Netweb Technologies are increasingly being recognized as key plays for investors looking to capitalize on India's rapidly growing AI infrastructure ecosystem. Driven by Huang's comments on the AI optimisation for industries, tech stocks rallied in Asian markets, while AI stocks listed on the Nasdaq, NYSE remain in focus when US markets open for trading later today.
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Global AI rally post Nvidia's chip launch
Shares of Samsung, LG Electronics and other South Korean tech firms rallied, as expected meetings between Nvidia CEO Huang and Korean executives boosted hopes of tie-ups in AI and robotics. Chipmaker Samsung Electronics was also buoyed by data that South Korea's semiconductor exports surged to a record high in June on the AI boom, helping the country's total exports post their biggest rise in over four decades. Samsung Electronics shares jumped 9.5%, lifting its market value above 2,000 trillion. LG Electronics, a maker of home appliances and TVs which is expanding into robotics, jumped 28%.
Nvidia unveiled a new chip that puts AI capabilities directly into laptops and desktop computers, to be delivered this year, which experts said would overhaul how users engage with AI. Huang said the RTX Spark PC chip is part of Nvidia's effort with Microsoft to "reinvent the PC" for the AI era, after years of collaboration between the companies. The chip is designed to run AI agents locally rather than relying solely on cloud computing. Huang said it was developed with Taiwan's MediaTek on the RTX Spark PC chip.
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