Infosys Faces Setback as $1.5 Billion AI Solutions Deal Terminated
In a significant development, Infosys, the IT services giant, revealed that a $1.5 billion agreement focusing on artificial intelligence (AI) solutions with an undisclosed global company has been terminated. The deal, signed in September for a 15-year period, aimed to provide digital transformation and modernization services through Infosys’ platforms and AI solutions.
In a stock exchange filing on Saturday, Infosys stated, “The global company has now elected to terminate the Memorandum of Understanding, and the parties will not be pursuing the Master Agreement.” The identity of the global company remains undisclosed, adding an element of mystery to the termination.
This development comes on the heels of the unexpected resignation of Nilanjan Roy, Infosys’ CFO, who served in the position for approximately six years. The termination of the