Infosys (INFY.NS), the second-largest exporter of software services from India, announced the signing of a $1.5 billion, 15-year contract with a “global company”.
Using the company’s platforms and artificial intelligence (AI) solutions, Infosys will deliver improved digital experiences and business operation services under the terms of the agreement, the company said on Thursday.
The company’s name and if it is an existing client were omitted by Infosys.
American chip manufacturer Nvidia (NVDA.O) announced AI collaborations with the Tata group’s Tata Consultancy Services (TCS.NS) and Indian conglomerate Reliance Industries (RELI.NS) earlier this month to create generative applications.
Infosys and a current client agreed to a $2 billion contract in July for the provision of AI and automation services over a five-year period.
Earlier this month, STARK Group, Europe’s leading retailer and distributor of building supplies, and tech giant Infosys signed a strategic multi-year partnership to fuel STARK Group’s digital transformation journey using the recently introduced Infosys Topaz.
Using generative AI technology, Infosys Topaz is a suite of services, solutions, and platforms that puts AI first. In order to enhance technology and deliver seamless services to STARK Group’s offices around Europe, Infosys and STARK Group will create a cutting-edge data centre in Denmark as part of this partnership.
Infosys will use Infosys Topaz to implement a “AI first” strategy, enabling STARK Group with AI-driven operational efficiencies and service quality.
Additionally, Infosys plans to use its Live Enterprise Application Management Platform (LEAP), a cloud-enabled platform, to deliver NextGen Application Management Services as a component of Infosys Cobalt and to help automate the STARK Group’s IT landscape with the aim of continuously enhancing and innovating their IT operations.
With the recent announcement of a strategic partnership to drive Danske Bank’s digital transformation, Infosys further strengthened its localization strategy in the Nordic region.
In the past, Infosys had purchased Fluido in Finland and BASE Life Science in Denmark.
In May, Infosys unveiled Infosys Topaz, a new platform that combines data analytics and generative AI. By utilizing intelligent tools, platforms, and autonomous software engineering for business agility, the platform aims to increase efficiency across the organization.
Shares of the company increased marginally by 0.4%, cutting the stock’s losses for the year to date to 0.1% while the Nifty IT (.NIFTYIT) index rose by 15.46%.