Infosys announced on Wednesday that its AI services have reached an annualized revenue rate of $1 billion. CEO Salil Parekh disclosed the figure at the company’s 45th Annual General Meeting. AI-driven technology modernization now stands as one of the largest business segments for the IT firm.
The company expanded its partnership with GlobalFoundries to deliver AI-driven managed services for IT operations. Infosys launched the CMO AI Hub alongside ANA and LIONS to provide a learning platform for marketing executives. Additionally, a new collaboration with Sentara will focus on scaling AI adoption within healthcare services.
Shares of Infosys rose as much as 2.37% during intraday trading on India’s National Stock Exchange on Wednesday. The company continues to position itself to meet rising global demand for enterprise artificial intelligence.