Tata Consultancy Services (TCS) share price gained nearly 2% on Thursday, February 19, after the company announced partnership with OpenAI. TCS share price rose as much as 1.98% to ₹2,748 apiece on the BSE.
The rally in TCS share price today mirrored gains in overall IT stocks, with the Nifty IT index rising 0.5% despite weak sentiment in the broader Indian stock market. Coforge, Infosys, Wipro, and HCL Technologies were among other IT gainers.
The Tata Group, TCS and OpenAI have announced a multi-dimensional strategic partnership that will drive AI-powered innovation across enterprise, consumer, and social sectors.
“This partnership spans multiple high-impact areas, including powering AI-led innovation across Tata Group companies, joint efforts to drive AI transformation across industries globally, and setting up AI infrastructure,” said TCS in a regulatory filing on February 19.
Several thousand Tata Group employees will get access to Enterprise ChatGPT. In addition, TCS will leverage OpenAI’s Codex to boost software engineering outcomes.
Under this partnership, OpenAI and TCS will come together to build impactful industry-specific solutions. The two companies will jointly enable Indian and global enterprises to transform with AI-powered solutions specific to their organizational context. Through this collaboration, TCS will help its customers accelerate AI-led transformation by deploying, integrating, and scaling OpenAI’s advanced AI platforms worldwide, the company statement added.
TCS’ HyperVault unit and OpenAI have agreed to a multi-year partnership to develop AI infrastructure in India. In the initial phase, TCS will develop AI infrastructure with 100MW capacity, with an option to scale to 1 GW. This infrastructure will power next-generation AI workloads and position India as a global AI hub.
TCS Share Price Performance
TCS share price has fallen 14% in one month, and has dropped 10% in the past six months. The Tata Group stock has declined 28% in one year and has slipped 34% in two years.
At 11:25 AM, TCS share price was trading 0.80% higher at ₹2,716.10 apiece on the BSE.
