Details: Infosys Sees Major AI Deal Worth Billions Canceled

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.

Infosys said that it will use its platforms and artificial intelligence (AI) technologies to improve digital experiences and provide business operation services.

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.

This occurred only two weeks after the previous CFO of the firm, Nilanjan Roy, quit.

The IT giant’s stock had increased 1.8% year over year and by around 6.7% throughout the quarter.