Posted 12/24/2023, 10:21:19 PM
Infosys Loses $1.5 Billion AI Tech Deal with Global Client Due to Market Uncertainty
- Infosys lost its biggest AI tech deal worth $1.5 billion that was announced in September
- The global client elected to terminate the Memorandum of Understanding; parties not pursuing a Master Agreement
- The deal was expected to fetch Infosys $100 million annually for 15 years
- Such cancellations have deeper ramifications on business and people, especially in a subdued market
- Infosys CEO recently said the uncertain macro environment tests the company's ability to pivot, despite having the highest large deals value that quarter