India's Infosys signs five-year AI deal with $2bln target spend

BENGALURU, July 18 (Reuters) - Indias second-largest software services exporter Infosys (INFY.NS) said on Monday it has signed a deal with an existing client to provide artificial intelligence (AI) and automation services that will span over five years, with a target spend estimated at $2 billion.

AI and automation-related development, modernization and maintenance services are included in the agreement, the company said in an exchange filing.

The company did not disclose the clients name.

As Microsoft-backed OpenAIs generative chatbot ChatGPT took the world by storm in late 2022, companies around the world have doubled down on investing in AI.

Infosys move comes after rival Tata Consultancy Services (TCS.NS) said it planned to train 25,000 engineers to get them certified on Microsofts (MSFT.O) Azure Open AI. Other rival Wipro (WIPR.NS) has plans to invest $1 billion into artificial intelligence (AI) over the next three years.

Bengaluru-based Infosys launched a platform called Infosys Topaz for generative artificial intelligence (AI) in late May.

The company is expected to report its first quarter results on July 20.