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The Economic Times
The Economic Times
Nikhil Agarwal

Rs 1.13 lakh crore boom in one corner, a bust in another: What changed in the AI trade?

AI United States Nifty IT Anthropic Dario Amodei Nikhil Agarwal OpenAI Sam Altman India Choice Institutional Equities

Calls in the US to slow down artificial intelligence (AI) growth turned out to be a double-edged sword for investors on Dalal Street as the Nifty IT Index surged 5%, adding Rs 1.13 lakh crore in market value, even as stocks tied to the power and infrastructure buildout needed to support AI models fell as much as 6%.

The slowdown calls turned out to be good news for India’s battered software technology stocks as HCL Tech and Tech Mahindra gained 5% each while Infosys, LTIMindtree and Tata Consultancy Services (TCS) advanced 4%.

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