Infosys Signs Five Year Deal to Provide AI Services worth $2 Billion
Infosys, India's second-largest software services exporter, announced on Monday that it has signed a five-year agreement with an existing client to provide artificial intelligence (AI) and automation services worth $2 billion.
The agreement includes AI and automation-related development, modernization, and maintenance services, according to the company's exchange filing.
The client's identity was not revealed by the company.
Companies around the world have doubled down on AI investment as Microsoft-backed OpenAI's generative chatbot ChatGPT took the world by storm in late 2022.
Infosys' move comes after rival Tata Consultancy Services announced plans to train 25,000 engineers on Microsoft's Azure Open AI. Wipro, another competitor, intends to invest $1 billion in artificial intelligence (AI) over the next three years.
In late May, Bengaluru-based Infosys launched Infosys Topaz, a platform for generative artificial intelligence (AI).
On July 20, the company is expected to release its first-quarter results.