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HomeAI News & UpdatesTermination of A $1.5 Billion AI Agreement Causes India's Infosys To Tumble.

Termination of A $1.5 Billion AI Agreement Causes India’s Infosys To Tumble.

On Tuesday, Infosys (INFY.NS) stock dropped as much as 2.6% following the announcement that a worldwide firm that had inked a $1.5 billion agreement with the IT behemoth to develop AI solutions had chosen to end the Memorandum of Understanding (MoU). With its platforms and AI technologies, Infosys intends to improve digital experiences and offer services for running businesses.

Signed in September 2023, the agreement spanned 15 years. This deal’s cancellation comes as the IT and tech industries worldwide are grappling with several problems and uncertainties.

Infosys – Nilanjan Roy | Management Profiles

The company’s former chief financial officer, Nilanjan Roy, resigned two weeks before this The information technology company’s stock experienced a 6.7% quarterly increase and a 1.8% year-to-date (YTD) gain.

Editorial Staff
Editorial Staff
Editorial Staff at AI Surge is a dedicated team of experts led by Paul Robins, boasting a combined experience of over 7 years in Computer Science, AI, emerging technologies, and online publishing. Our commitment is to bring you authoritative insights into the forefront of artificial intelligence.
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