Noida-based HCL Technologies has announced a significant deal with a Europe-based Fortune Global 50 firm to establish an AI-powered operating model for enhancing and managing the client’s global digital workplace and enterprise networks. The agreement, valued at $1.14 billion for the initial term from July to December 2031, with a potential extension for five more years, is expected to boost HCLTech’s order book significantly. This new engagement, focused on leveraging artificial intelligence, will play a key role in modernizing and overseeing the customer’s global digital workplace and enterprise network operations.
The partnership with the European company represents a strategic move in HCLTech’s AI roadmap, building on a series of recent collaborations, acquisitions, and investments. Earlier in June, HCLTech entered a long-term strategic pact with a renewable energy firm to streamline IT services and propel AI-driven operational changes. Additionally, collaborations with Nokia for advancing autonomous telecom network optimization through AI-driven rApps, and with Circles and GreySkies for AI-powered telecom software solutions, have been instrumental in expanding HCLTech’s AI initiatives.
Apart from these developments, HCLTech recently finalized the acquisition of Jaspersoft, a business intelligence platform, from Cloud Software Group. The company also invested in Sarvam AI, a sovereign AI startup, as part of a $234 million Series B funding round. Following this announcement, HCLTech’s shares surged by 5.68% to reach an intraday high of Rs 1,138.75 on the BSE during early trading. Despite this positive market response, the stock has faced challenges, witnessing a decline of over 30% in the last year and the past six months.
