INFY

Adds Standard Chartered and Intuit

May 21 (Reuters) - Concerns are deepening among investors and economists that AI adoption will upend established industries, with job losses already emerging in sectors most exposed to automation.

Goldman Sachs economists said in February that AI was responsible for 5,000 to 10,000 monthly net job losses last year in the most exposed U.S. industries.

A survey by global outplacement firm Challenger, Gray & Christmas linked AI to 7% of total U.S. planned layoffs announced in January.

Below is a table of AI-linked global layoffs announced since October 2025 from biggest to smallest. Entries with no specified number are placed at the bottom.

(Reporting by Romolo Tosiani and Philippe Leroy Beaulieu in Gdansk, Additional reporting by Anshuman Tripathy; Editing by Matt Scuffham, Milla Nissi-Prussak, Jonathan Ananda, Devika Syamnath and Shilpi Majumdar)

((Romolo.Tosiani@tr.com))

Adds graphic

By Aditya Soni and Abhirami G

May 19 (Reuters) - Microsoft's MSFT.O biggest data center in India is on track to open by mid-2026, its country head said on Tuesday, as the tech giant spends heavily to bolster its position in one of the world's largest markets for artificial intelligence services.

There's "massive demand" for Azure cloud services and the $30-a-month Copilot 365 AI assistant in the country, Puneet Chandok, president, Microsoft India and South Asia, told Reuters.

Like rivals Alphabet GOOGL.O and Amazon AMZN.O, Microsoft sees India as a potentially profitable market for AI thanks to its more than 1 billion internet users and deep tech talent.

Tapping that market is crucial as it looks to prove to investors that its massive bet on AI will pay off.

The company announced late last year that it would invest $17.5 billion in India, its biggest outlay in Asia, on top of the $3 billion pledged at the start of 2025.

That includes a new data center in the southern tech hub of Hyderabad, where Microsoft already has a significant presence.

"We are the ones who are bringing this to life quickly, the fastest out of the gates," Chandok said of the company's data center build-out, adding that the Hyderabad facility would be its biggest in India without disclosing exact capacity.

The new capacity will serve a growing customer base for AI services in India. Microsoft counts IT giants Infosys INFY.NS, Cognizant CTSH.O and Tata Consultancy Services TCS.NS among Copilot customers, with about 50,000 licenses each.

Chandok also said the India operations are contributing to AI features Microsoft is rolling out globally. The company employs more than 22,000 people in the country across cities.

Hiring staff to develop the features is getting tougher as demand exceeds supply, causing a "war for talent," Chandok said.

"The challenges in India are the same as everywhere else in the world."

(Reporting by Aditya Soni and Abhirami G in Bengaluru; Editing by Anil D'Silva)

((Aditya.Soni@thomsonreuters.com;))

The hosts are Reuters Breakingviews columnists. The opinions expressed are their own.

By Aimee Donnellan and Una Galani

DUBLIN/HONG KONG, May 14 (Reuters Breakingviews) - Follow on Apple or Spotify. Listen on the Reuters app. Read the episode transcript.

Listen to the podcast

The country’s $4 trln consumer-led economy is already seeing a slowdown in hiring and firms like Oracle are laying off staff. In this Viewsroom podcast, Breakingviews columnists explain why India is so vulnerable and how the situation may play out elsewhere.

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FURTHER READING

AI job shock risks throttling India’s consumption

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(Editing by Sheryl Peña and Gregory Garner; Production by Aditya Srivastav)

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Changes dateline, adds Cisco

May 13 (Reuters) - Concerns are deepening among investors and economists that artificial intelligence will upend established industries, with job losses already emerging in sectors most exposed to automation.

Goldman Sachs economists said in February that AI was responsible for 5,000 to 10,000 monthly net job losses last year in the most exposed U.S. industries.

A survey by global outplacement firm Challenger, Gray & Christmas linked AI to 7% of total U.S. planned layoffs announced in January.

Below is a table of AI-linked global layoffs announced since October from biggest to smallest. Entries with no specified number are placed at the bottom.

(Reporting by Romolo Tosiani and Philippe Leroy Beaulieu in Gdansk, Additional reporting by Anshuman Tripathy; Editing by Matt Scuffham, Milla Nissi-Prussak, Jonathan Ananda, Devika Syamnath and Shilpi Majumdar)

((Romolo.Tosiani@tr.com))

May 12 (Reuters) - India's Nifty IT index .NIFTYIT tumbled 3.6% on Tuesday to its lowest level since May 2023, as a weak earnings outlook and fears of slowing demand for traditional IT services rattled investors.

Analysts at HSBC said in a Tuesday note that fourth-quarter earnings and fiscal 2027 outlooks from India's top-tier IT firms largely missed expectations, adding that strong global artificial intelligence spending could be "crowding out" spending on traditional IT services.

HSBC's warning comes a day after OpenAI said it is launching a new company backed by more than $4 billion to help organisations build and deploy AI.

In February, global IT stocks saw a rout after Anthropic launched new tools that heightened concerns about AI-driven disruption in the data and professional services industry.

On Tuesday, shares of Indian IT companies including Tata Consultancy Services TCS.NS , InfosysINFY.NS , HCL Technologies HCLT.NS and Wipro WIPR.NS fell between 2.5% and 4%.

(Reporting by Surbhi Misra in Bengaluru; Editing by Ronojoy Mazumdar)

((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))

Changes dateline and adds Cloudflare

May 8 (Reuters) - Concerns are deepening among investors and economists that artificial intelligence will upend established industries, with job losses already emerging in sectors most exposed to automation.

Goldman Sachs economists said in February that AI was responsible for 5,000 to 10,000 monthly net job losses last year in the most exposed U.S. industries.

A survey by global outplacement firm Challenger, Gray & Christmas linked AI to 7% of total U.S. planned layoffs announced in January.

Below is a table of AI-linked global layoffs announced since October from biggest to smallest. Entries with no specified number are placed at the bottom.

(Reporting by Romolo Tosiani and Philippe Leroy Beaulieu in Gdansk; Editing by Matt Scuffham, Milla Nissi-Prussak, Jonathan Ananda and Devika Syamnath)

((Romolo.Tosiani@tr.com))

Recasts with closing levels

BENGALURU, May 6 (Reuters) - India's Coforge COFO.NS stock added more than $500 million in market capitalisation on Wednesday, closing 9.5% higher at 1,280 rupees, after the mid-tier IT firm forecast robust earnings and its margin beat surprised analysts.

Coforge's upbeat fiscal 2027 earnings outlook, supported by strong deal wins, order-book visibility and an improvement in operating margins, sharply contrasted the outlooks of larger peers Infosys INFY.NS and HCLTech HCLT.NS, which forecast subdued growth from AI-led spending caution and geopolitical tensions.

NSE data showed that the stock's put-call ratio - a measure of bearish bets relative to bullish ones - was at 0.53, signalling bullish positioning, with call volumes running at nearly twice the pace of puts.

Meanwhile, data also showed options traders unwound their bearish positions, with the 1300 contract being the most active for the day - suggesting the market is betting that Coforge's rally may still have room to run.

The stock logged its best session in more than a year and led gains on the Nifty IT index .NIFTYIT, which rose 0.5%. It was the stock's busiest day since 2023, with about 27 million shares changing hands - almost nine times its 30-day average.

Brokerage Jefferies said the results were a "clear positive surprise", citing a 230-basis-point sequential jump in earnings before interest, taxes, depreciation, and amortization (EBITDA) margin to 16.6%, driven by lower costs and operating leverage.

"Coforge remains our preferred pick in the sector," said brokerage Jefferies. It hiked its price target to 1,860 rupees from 1,620 rupees and reiterated a "buy" rating, joining Prabhudas Lilladher, which also hiked PT to 2,020 rupees from 1,870.

Coforge on Tuesday forecast EBITDA growth of more than 20.5% on a consolidated basis in FY27 and announced that its March-quarter profit more than doubled from a year ago.

Strong deal wins and order-book growth provide visibility for double-digit organic growth, the firm said, even as it trimmed its lower-margin India business.

For the year, Coforge is down 23%, trailing the sub-index's 22% decline. The company also trades at a slight premium, with its 12-month forward price-to-earnings ratio at 21.47, compared with the industry average of 18.42, as per LSEG data.

($1 = 95.0750 Indian rupees)

(Reporting by Abhinav Parmar, Kashish Tandon and Pranav Kashyap in Bengaluru; Editing by Rashmi Aich, Harikrishnan Nair and Janane Venkatraman)

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Updates dateline, adds Freshworks

May 5 (Reuters) - Investors' and economists' concerns that artificial intelligence will upend established industries are deepening, with job losses already emerging in sectors most exposed to automation.

Goldman Sachs economists said in February that AI was responsible for 5,000 to 10,000 monthly net job losses last year in the most exposed U.S. industries.

A survey by global outplacement firm Challenger, Gray & Christmas linked AI to 7% of total U.S. planned layoffs announced in January.

Below is a table of AI-linked global layoffs announced since October from biggest to smallest. Entries with no specified number are placed at the bottom.

(Reporting by Romolo Tosiani and Philippe Leroy Beaulieu in Gdansk; Editing by Matt Scuffham, Milla Nissi-Prussak and Jonathan Ananda)

((Romolo.Tosiani@tr.com))

April 30 (Reuters) - Infosys Ltd INFY.NS:

• APPOINTS NITIN PARANJPE AS VICE CHAIRMAN WITH IMMEDIATE EFFECT

Source text: ID:nBSE5zdySP

Further company coverage: INFY.NS

((Reuters.Briefs@thomsonreuters.com;;))

April 24 (Reuters) - Shares of Infosys INFY.NS fell as much as 3.3% on Friday after the IT firm forecast weaker-than-expected fiscal 2027 revenue growth, as AI-driven spending caution amid macro uncertainty raised concerns over demand recovery in the sector.

The stock was trading 1.9% lower at 9:20 a.m. IST and was the second-biggest loser on the Nifty IT index .NIFTYIT.

(Reporting by Urvi Dugar in Bengaluru; Editing by Harikrishnan Nair)

((UrviManoj.Dugar@thomsonreuters.com; +91 9558725583;))

** Shares of Infosys INFY.NS drop 1% ahead of Q4 results

** Analysts, on avg, expect INFY to post 12.5% Y/Y rev growth and 6.5% Y/Y profit growth - LSEG compiled data

** India's no. 2 IT firm expected to post a seasonally weak Q4, with analysts flagging flat-to-negative sequential growth and modest margin pressure

** Nomura forecasts about a 1% sequential decline in cc revenue in Q4 and a ~40 bps dip in EBIT margin to around 21%, citing visa costs and the absence of one-off gains

** HSBC expects limited organic revenue in Q4, adding Q4 is seasonally weak for INFY as it also has lower working days on a sequential basis

** On Tuesday, rival HCLTech HCLT.NS missed Q4 results estimates and gave FY27 outlook below analysts' estimates

** Avg rating on INFY at "buy"; median PT is 1,660 rupees - LSEG compiled data

** YTD stock down 22.4% vs IT index's .NIFTYIT ~20% drop

(Reporting by Kashish Tandon in Bengaluru)

((Kashish.tandon@thomsonreuters.com))

April 22 (Reuters) - Infosys Ltd INFY.NS:

• INFOSYS ANNOUNCES STRATEGIC COLLABORATION WITH OPENAI TO ACCELERATE ENTERPRISE AI TRANSFORMATION AND UNLOCK AI VALUE AT SCALE

Source text: ID:nCNWxMBlca

Further company coverage: INFY.NS

((Reuters.Briefs@thomsonreuters.com;))

April 21 (Reuters) - OpenAI said on Tuesday it is expanding partnerships with major global consulting firms to speed up enterprise adoption of its Codex artificial intelligence tools, as competition in the rapidly evolving AI market intensifies.

It is also launching Codex Labs, which will place OpenAI specialists directly inside customer organizations to help integrate the technology into existing systems and workflows.

The ChatGPT‑maker said it is working with global systems integrators including Accenture ACN.N, Capgemini CAPP.PA, CGI, Cognizant CTSH.O, Infosys INFY.NS, PwC and Tata Consultancy Services TCS.NS to help large companies identify and deploy Codex across their software development operations.

The move comes as OpenAI faces increasing pressure from rivals such as Anthropic, whose Claude models have gained traction with corporate customers for coding, reasoning and enterprise deployments.

Larger technology firms including Microsoft, Google and Amazon are also investing heavily to differentiate their AI offerings for businesses.

As part of a broader strategic shift, OpenAI has in recent months scaled back or shut down some smaller experimental initiatives, including projects such as Sora, as it concentrates resources on core products such as Codex and ChatGPT.

Codex is designed to automate parts of the software development lifecycle, including writing, reviewing and reasoning about code.

OpenAI said weekly usage of Codex has climbed sharply in recent weeks, with more than 4 million developers now using it, up from around 3 million earlier this month.

(Reporting by Kritika Lamba in Bengaluru; Editing by Devika Syamnath)

((Kritika.Lamba@thomsonreuters.com;))

Adds Snap in the table

April 15 (Reuters) - Investors' and economists' concerns that artificial intelligence will upend established industries are deepening, with job losses already emerging in sectors most exposed to automation.

Goldman Sachs economists said in February that AI was responsible for 5,000 to 10,000 monthly net job losses last year in the most exposed U.S. industries.

A survey by global outplacement firm Challenger, Gray & Christmas linked AI to 7% of total U.S. planned layoffs announced in January.

Below is a table of AI-linked global layoffs announced since October from biggest to smallest. Entries with no specified number are placed at the bottom.

(Reporting by Romolo Tosiani and Philippe Leroy Beaulieu in Gdansk; Editing by Matt Scuffham and Milla Nissi-Prussak)

((Romolo.Tosiani@tr.com;))

April 9 (Reuters) - Bendigo and Adelaide Bank Ltd BEN.AX:

• ANNOUNCES SEVEN-YEAR TECHNOLOGY SERVICE PARTNERSHIP WITH INFOSYS

• ANNOUNCES SIX-YEAR BUSINESS OPERATIONS PARTNERSHIP WITH GENPACT

• EXPECTS UPFRONT TRANSITION COSTS OF A$85 MILLION-A$95 MILLION, MOSTLY IN FY27

• REPORTS UNAUDITED 3Q26 CASH EARNINGS OF A$137.9 MILLION, STATUTORY NPAT OF A$109.4 MILLION

• 3Q26 NIM WAS 1.98%, UP 6BPS ON 2Q26

• 3Q NET INTEREST INCOME A$433.2 MILLION

• EMPLOYEES WILL BE CONSULTED ON ROLES AND TEAM STRUCTURES

• IMPROVEMENTS EXPECTED WILL LEAD TO WORKFORCE CHANGES, IMPACTING PEOPLE IN TECH, BUSINESS OPERATIONS TEAMS

Further company coverage: BEN.AX

((Reuters.Briefs@thomsonreuters.com;))

By Haripriya Suresh and Bharath Rajeswaran

BENGALURU, April 6 (Reuters) - Top Indian information technology firms are set to report another lacklustre quarter, with revenue and profit seen rising around 10% year-on-year largely on a weaker rupee rather than underlying growth, seven brokerages said.

Uncertainties due to wars, weak discretionary spending and concerns around artificial intelligence will keep weighing on client budgets, making the revenue forecast for the next fiscal year a key focus for investors, they added.

Tata Consultancy Services TCS.NS, Infosys INFY.NS, HCLTech HCLT.NS and other software services exporters are due to report fourth quarter results starting April 9.

"We expect limited deal win surprises, patchy ex-BFSI growth and slow start to (the first half of 2027) on macro/gen AI uncertainty," Ambit Capital analysts said in a preview note.

The Indian rupee fell 4% against the U.S. dollar during the March quarter, and slid to record low levels.

Software services companies typically benefit as they bill in foreign currencies while incurring most costs in rupees, inflating profits when dollar revenues are converted.

The $315 billion sector, employing about 5.9 million people, last reported double-digit revenue growth in the March 2023 quarter. Since then, demand has softened as clients cut discretionary spending, deal cycles lengthened, and spending shifted towards cost optimisation and AI-led projects.

Infosys and HCLTech are likely to provide annual revenue forecasts of a rise between 2%-4% and 4%-6% respectively for the fiscal year 2027, the brokerages said.

Revenue for the top six firms -- TCS, Infosys, HCLTech, Wipro WIPR.NS, Tech Mahindra TEML.NS, and LTM LTIM.NS -- is expected to grow about 10.9% year-on-year in the March quarter, with net profit rising 10.3%.

On a constant currency basis, or stripping out exchange-rate effects, the top four IT firms are more likely to see revenue rise only 1.8% for the year, Ambit said.

Analysts at Yes Securities said performance was likely to be uneven, with relative resilience in banking and financial services, while retail, healthcare, and hi-tech segments could face pressure due to higher exposure to discretionary spending.

"Our recent interactions suggest that overall client budgets have not increased materially and discretionary spending remains at bay," analysts at Jefferies said in a preview note.

However, even a modest revenue forecast could support stock prices, HSBC analysts said, noting valuations currently reflect only low-single-digit growth.

While the fears around the impact due to AI are "difficult to validate or falsify, the burden of proof now sits with IT companies. Re-rating, thus, depends on proof of surviving and thriving," said analysts at Motilal Oswal.

Shares of IT companies .NIFTYIT are down 20% so far this year, on investor worries that advanced AI tools launched by Anthropic and Palantir could disrupt IT's traditional business models and cannibalise business. The Nifty 50 .NSEI is down 13%.

(Reporting by Haripriya Suresh and Bharath Rajeswaran in Bengaluru; Editing by Nivedita Bhattacharjee)

((haripriya.suresh@thomsonreuters.com))

March 31 (Reuters) - Infosys Ltd INFY.NS:

• INFOSYS - EXPECTS CUMULATIVE TAX REFUND OF 17.45 BILLION RUPEES INCLUDING INTEREST

Source text: ID:nNSEc3vV50

Further company coverage: INFY.NS

((Reuters.Briefs@thomsonreuters.com;))

Adds HSBC, Meta March, Danske Bank, Atlassian

March 19 (Reuters) - Investors' and economists' concerns that artificial intelligence will upend established industries are deepening, with job losses already emerging in sectors most exposed to automation.

Goldman Sachs economists warned in February that AI was responsible for 5,000 to 10,000 monthly net job losses last year in the most exposed U.S. industries.

A survey by global outplacement firm Challenger, Gray & Christmas linked AI to 7% of total U.S. planned layoffs announced in January.

Below is a table of AI-linked global layoffs announced since October from biggest to smallest. Entries with no specified number are placed at the bottom.

(Reporting by Romolo Tosiani, Philippe Leroy Beaulieu in Gdansk; Editing by Matt Scuffham and Milla Nissi-Prussak)

((Romolo.Tosiani@tr.com;))

March 10 (Reuters) - Infosys Ltd INFY.NS:

• INCORA AND INFOSYS COLLABORATE

• COLLABORATION FOR AI-ENABLED SUPPLY CHAIN OPERATIONS

Source text: ID:nBSE17X3DC

Further company coverage: INFY.NS

((Reuters.Briefs@thomsonreuters.com;;))

By Bharath Rajeswaran

March 6 (Reuters) - Foreign outflows from India's information technology stocks hit a seven-month high in February, on worries that artificial intelligence-led disruption could squeeze earnings.

Foreign portfolio investors sold IT stocks worth 169.49 billion rupees ($1.85 billion) for the month. That triggered a 19.5% drop in the IT index .NIFTYIT, its worst monthly performance since September 2008, when the global financial crisis upended equity markets, National Securities Depository (NSDL) data showed on Friday.

The 10 constituents of the index lost about $62.8 billion in market capitalisation in February after U.S. firms such as Anthropic and Palantir unveiled key updates in AI automation. Last year, FPIs offloaded a record 750 billion rupees ($8.18 billion) of IT stocks on weaker earnings and softer client spending.

"The IT sector is facing multiple headwinds, particularly from the rapid advancement of AI tools," said Piyush Gupta, fund manager at AlphaGrep Investment Management.

Constructive collaborations between Indian IT firms and global AI leaders, such as the strategic partnership between Infosys and Anthropic, and improvement in earnings in the sector will be crucial to restore FPI interest in the sector, according to three analysts.

Yet, February was not a one-way risk-off story. FPIs rotated aggressively into other pockets of the market, lifting overall inflows to 226.15 billion rupees, the highest in 17 months since September 2024.

The rebound in broader foreign appetite was fueled by improving corporate earnings and easing trade tensions after India sealed a key trade deal with the European Union and an interim framework for an agreement with the U.S.

Sectors such as capital goods, financials, metals, and energy drew strong foreign buying, supported by improving earnings despite a one-time hit from new labour codes.

AlphaGrep's Gupta said that while sturdier earnings and trade progress help the long game, the FPI comeback is likely to be gradual, highly sensitive to geopolitics and external shocks.

That fragility is already showing.

FPIs net sold 175.70 billion rupees of shares in just four sessions in March as the escalating U.S.-Israeli war with Iran spiked oil prices and squeezed global risk appetite.

($1 = 91.6750 indian rupees)

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Harikrishnan Nair)

((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))