AI is unstoppable and is here to stay, and if you’re early in the AI race, it will help your portfolio grow. There’s been nothing but exponential growth in the AI sector.
In 2022, the global artificial intelligence market reached a value of USD 136.55 billion, and experts anticipate it will grow at a compound annual growth rate (CAGR) of 37.3% from 2023 to 2030.
Big technology companies are making substantial investments in AI research and development.
AI race Mailny focuses on making AI accessible for enterprise applications such as self-driving vehicles and crucial life-saving medical gear.
Now that you know the importance and role of AI in our Future, Let’s See how the AI Deal has affected Infosys.
Infosys AI Deal
On Monday, India’s second-largest software services exporter, Infosys, entered into a framework agreement with a strategic client, aiming to deliver development, modernization, and maintenance services driven by AI and automation.
The client has set the projected expenditure for these services to reach $2 billion within five years.
Infosys AI Deal is with its existing client, but the company refused to disclose the client’s name.
Infosys AI News
If you’re wondering if Infosys is the only company investing in AI, then you’re wrong. The ai race is filled with big names.
The Infosys AI news came after big companies like TCS and Wipro already invested in AI.
TCS will invest in AI in the next two quarters, which will be around $ 1 Billion. Wipro to Invest $1 Billion in AI in the Next 3 Years.
|TCS||2 Quarters||$1 Billion|
|Wipro||3 Years||$1 Billion|
|Infosys||5 Years||$2 Billion|
Infosys Share Price
Before the AI deal, Infosys’s Share Price was low, showing a decline, but it jumped heavily and showed a sudden increase, with 10% returns.
Infosys Q1 Results 2023
Revenues in CC terms grew by 21.4% YoY and 5.5% QoQ.
Revenue was recorded at Rs. 10,562 crores from Rs. 9,217 crores rising 9% YoY.
Revenue came in at Rs. 5,004 crores rising 14% YoY from Rs. 4,175 crores.
The following is the list of Indian Companies that have invested heavily in AI.