HCLTech Wins $1.14 Billion AI-Driven European Deal on July 3

According to Reuters, HCLTech won a $1.14 billion contract with an unnamed European firm on July 3 to transform and manage the client's global digital workplace and enterprise networks using an AI-driven operating model. The five-and-a-half-year deal can be extended for another five years, and marks HCLTech's largest announced contract since a $2.1 billion Verizon deal in August 2023.

HCLTech's shares rose 6.3% following the announcement, while India's Nifty IT index gained 2.7%.