Infosys signs $2 billion Artificial Intelligence for span of five years

Infosys has bagged a $2 billion deal spread over the span of 5 years from an existing client. The agreement is to provide and modernisation based on automation and artificial intelligence (AI) and maintenance services, as revealed by its filings to the stock exchange on Monday.

The IT giant firm did not disclose the name of the firm. The filing read, “Infosys has entered into framework agreement with one of its existing strategic clients to provide AI and automation led development, modernisation, and maintenance services.” It further confirmed that the total client spend is estimated to be $2 billion over the span of 5 years.

This comes a few days ahead of the announcement of its first quarter results scheduled on Thursday. The company registered its FY24 growth around 4-7%, which is its slowest revenue expansion in six years.

In the past few weeks, Infosys has been announcing some of the big deals they have recently scored. Last month, the tech giant has a digital transformation deal with Nordic-based Danske Bank valued at $454 million for a period of five years. Further ahead, the company will also acquire the lender’s IT centre in Bengaluru, that employs 1,400 people.

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