TCS

INFY

WIPRO

Shares of India’s top information technology services companies took another beating on Tuesday after artificial intelligence research giant OpenAI announced its entry into the software services business, raising concerns about their future in the AI era. Shares of Tata Consultancy Services Ltd (TCS) fell 3.8%, while Infosys Ltd, HCL Technologies Ltd, Wipro Ltd and Tech Mahindra Ltd declined 3.1%, 4.1%, 3.6% and 4.4%, respectively, on Tuesday following OpenAI’s 11 May announcement of the OpenAI Deployment Company, a new joint venture formed with a consortium of 19 private equity and consulting firms, including TPG, Advent International, Bain Capital, and Brookfield Asset Management.