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The Economic Times
The Economic Times
Technology
Shristi Achar

ETtech Explainer: Did OpenAI's new AI deployment venture just kill Indian IT stocks?

OpenAI Anthropic Infosys Tata Consultancy Services

On Tuesday, Indian IT stocks plunged to three-year lows, amid an already weak market environment, after OpenAI announced the launch of its joint venture, OpenAI Deployment Company, aimed at helping enterprises adopt AI systems at scale. All IT stocks, such as Tata Consultancy Services, Infosys, HCLTech, LTM, among others, fell between 2.5% and 4.8%, extending losses moderately on Wednesday.

ET explains the reaction:

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