Infosys signs five-year AI deal with $2 billion target spend

IT major Infosys has won a $2 billion deal spread over five years with an existing client. The agreement is to provide artificial intelligence (AI) and automation-based modernization and maintenance services, according to its filing to the stock exchanges filed late Monday.

The Bengaluru-headquartered firm did not disclose the name of the client. “Infosys has entered into framework agreement with one of its existing strategic clients to provide AI and automation led development, modernization and maintenance services. The total client target spend over 5 years is estimated at $2 billion,” the filing said.