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Monday, April 15, 2024

Details: Infosys Sees Major AI Deal Worth Billions Canceled


<p>BENGALURU: Infosys’s shares dropped as much as 2.6% on Tuesday after the announcement by the IT behemoth that an unidentified international business, which had inked a $1.5 billion agreement centered on artificial intelligence solutions, had chosen to terminate its Memorandum of Understanding (MoU) with the company.</p>
<p><img decoding=”async” class=”alignnone wp-image-323541″ src=”https://www.theindiaprint.com/wp-content/uploads/2023/12/theindiaprint.com-you-can-wear-hijab-farmers-hope-for-drought-and-karnataka-cong-is-suffering-from-f-750×750.jpg” alt=”theindiaprint.com you can wear hijab farmers hope for drought and karnataka cong is suffering from f” width=”1177″ height=”1177″ title=”Details: Infosys Sees Major AI Deal Worth Billions Canceled 3″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2023/12/theindiaprint.com-you-can-wear-hijab-farmers-hope-for-drought-and-karnataka-cong-is-suffering-from-f-750×750.jpg 750w, https://www.theindiaprint.com/wp-content/uploads/2023/12/theindiaprint.com-you-can-wear-hijab-farmers-hope-for-drought-and-karnataka-cong-is-suffering-from-f-1024×1024.jpg 1024w, https://www.theindiaprint.com/wp-content/uploads/2023/12/theindiaprint.com-you-can-wear-hijab-farmers-hope-for-drought-and-karnataka-cong-is-suffering-from-f-500×500.jpg 500w, https://www.theindiaprint.com/wp-content/uploads/2023/12/theindiaprint.com-you-can-wear-hijab-farmers-hope-for-drought-and-karnataka-cong-is-suffering-from-f-768×767.jpg 768w, https://www.theindiaprint.com/wp-content/uploads/2023/12/theindiaprint.com-you-can-wear-hijab-farmers-hope-for-drought-and-karnataka-cong-is-suffering-from-f-96×96.jpg 96w, https://www.theindiaprint.com/wp-content/uploads/2023/12/theindiaprint.com-you-can-wear-hijab-farmers-hope-for-drought-and-karnataka-cong-is-suffering-from-f-150×150.jpg 150w, https://www.theindiaprint.com/wp-content/uploads/2023/12/theindiaprint.com-you-can-wear-hijab-farmers-hope-for-drought-and-karnataka-cong-is-suffering-from-f.jpg 1200w” sizes=”(max-width: 1177px) 100vw, 1177px” /></p>
<p>Infosys said that it will use its platforms and artificial intelligence (AI) technologies to improve digital experiences and provide business operation services.</p>
<p>A 15-year contract was signed in September 2023. The deal’s cancelation occurs during a period of uncertainty and difficulty for IT and IT enterprises worldwide.</p>
<p>This occurred only two weeks after the previous CFO of the firm, Nilanjan Roy, quit.</p>
<p>The IT giant’s stock had increased 1.8% year over year and by around 6.7% throughout the quarter.</p>


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