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LTIMindtree targets ten billion dollars in revenue by fiscal year 2032
LTIMindtree aims for US$10 billion in revenue by FY 2031-32, supported by strategic acquisitions and a return to double-digit industry growth. The company is enhancing its AI offerings to meet rising demand for Gen AI services and targets a margin increase to 17-18% through various optimization strategies. Analysts maintain a BUY rating with a target price of Rs 7,360, projecting a USD revenue CAGR of 9.7% and earnings CAGR of 13.7% from FY24-27E.
Moneycontrol
United States Dollar Mindtree IND
Technology & Innovation, Market Report
06:56 27.11.2024
IT sector poised for growth driven by BFSI and AI deals
IT stocks have gained traction, with the Nifty IT Index rising nearly 5% over the past month. Bernstein analysts predict a growth upcycle driven by BFSI and AI-related deals, favoring companies like Infosys and TCS for their strong US market exposure, while mid-cap players like Persistent Systems are also expected to benefit significantly.
Moneycontrol
United States Dollar TCS HCL Technologies Limited Persistent Systems Limited Wipro Limited Tech Mahindra Limited LTIMindtree Limited Infosys Limited IND Leonard Bernstein Show more
Technology & Innovation, Market Report
05:48 27.11.2024
LTIMindtree aims for USD 10 billion revenue with strong AI capabilities
Motilal Oswal has maintained a buy rating on LTIMindtree with a target price of INR 7,400, indicating a 19% upside. The company aims for USD 10 billion in revenue and an EBIT margin of 17-18%, leveraging strengths in AI and data engineering, despite facing margin challenges. Increased spending from BFSI clients on transformation projects positions LTIM to benefit as demand strengthens.
Moneycontrol
United States Dollar Mindtree IND
Technology & Innovation, Market Report
05:30 27.11.2024
Dell shares drop on weak forecast despite strong AI sales growth
Dell Technologies reported fiscal third-quarter earnings that exceeded expectations for earnings per share but fell short on revenue, leading to a 10% drop in shares after hours. The company forecasted fourth-quarter revenue between $24 billion and $25 billion, below analyst expectations, despite a 34% revenue increase in its Infrastructure Solutions Group driven by AI sales. Demand for AI systems remains strong, with a $4.5 billion pipeline of future orders, as customers await Nvidia's next-generation Blackwell chips.
CNBC
United States Dollar HPE AMD Dell Inc. NVIDIA Corporation Super Micro Computer, Inc. Intel USA Michael S. Dell Jensen Huang Show more
Technology & Innovation, Market Report
22:07 26.11.2024
databricks seeks up to 8 billion in funding at 55 billion valuation
Databricks is raising at least $5 billion in a funding round that could value the company at $55 billion, allowing employees to cash out and reducing the urgency for an IPO. Founded in 2013, the firm specializes in data organization and generative AI products, with annualized revenue projected to reach $2.4 billion by mid-2024. CEO Ali Ghodsi indicated that a public debut could occur in the latter half of next year, but the focus remains on long-term success rather than immediate market entry.
CNBC
United States Dollar Baillie Gifford Walgreens Boots Alliance, Inc. AT&T Inc. Capital One Financial Corporation Insight Partners Andreessen Horowitz Fidelity NVIDIA Corporation Databricks Stripe USA Ali Ghodsi Show more
Technology & Innovation, Market Report
19:40 26.11.2024
masayoshi son to meet pm modi after talks with mukesh ambani
Masayoshi Son, the founder of SoftBank Group, is set to meet Indian Prime Minister Narendra Modi on Wednesday. Prior to this, he met Mukesh Ambani, chairman of Reliance Industries, to discuss potential artificial intelligence opportunities in India.
Moneycontrol
Indian Rupee Japanese Yen SoftBank Group Corp. Reliance Industries Limited JPN IND Narendra Modi Masayoshi Son Mukesh Ambani Show more
Technology & Innovation, News Article
17:22 26.11.2024
uber ventures into ai data labeling with gig-economy programmers
Uber Technologies Inc. is expanding its gig-economy workforce to include programmers, launching a new AI training and data labeling division called Scaled Solutions. This initiative aims to assist businesses in outsourcing AI development tasks, with clients like Aurora Innovation and Niantic Inc. now benefiting from high-quality datasets.
Bloomberg.com
United States Dollar Uber Technologies, Inc. Aurora Innovation, Inc. Niantic Inc. USA Show more
Technology & Innovation, News Article
16:07 26.11.2024
utilities face climate goal setbacks amid rising electricity demand and policy shifts
Big US utilities are at risk of failing their climate goals as surging electricity demand driven by artificial intelligence and a potential Trump reelection could shift policies in favor of fossil fuels. This has led to delays in retiring coal plants and plans for significant natural gas expansion, undermining ambitious net-zero targets set for 2050.
bloomberg.com
United States Dollar Apple Inc. USA Donald Trump
Technology & Innovation, News Article
16:00 26.11.2024
tech winners and losers of 2024 a year of innovation and failure
In 2024, the tech landscape saw significant upheaval, with X (formerly Twitter) and Amazon facing major setbacks due to mismanagement and employee dissatisfaction. Meanwhile, AI tools and platforms thrived, with NVIDIA leading the charge in the AI sector, while Bluesky emerged as a popular alternative to X. The year also highlighted the rise of Arm-based chips and the successful collaboration of major tech companies through the Matter Protocol, enhancing smart home functionality.
ZDNET
Apple Inc. Adobe Inc. Meta CrowdStrike Holdings, Inc. Amazon.com, Inc. Tesla, Inc. OpenAI Sonos, Inc. Twitter NVIDIA Corporation Intel Elon Musk Show more
Technology & Innovation, Market Report
15:59 26.11.2024
Wipro extends partnership with Marelli for cloud transformation project
Wipro has secured a four-year extension of its partnership with Marelli to enhance cloud transformation efforts. The initiative will transition Marelli's Milan Data Centre and local server rooms to the cloud, aiming to centralize operations and improve employee support services through AI-driven virtual assistants. This collaboration is expected to reduce time-to-market for Marelli's products and create long-term value for stakeholders.
Moneycontrol
Wipro Limited Marelli ITA Vittorio Rossetti
Technology & Innovation, Press Release
15:30 26.11.2024
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