HCLTech shares rose 6.45% to an intraday high of Rs. 1,147 after the tech firm announced a strategic partnership with a Europe-based Fortune Global 50 company. The contract is worth $1.14 billion during its initial term.
The filing said, “HCLTech is pleased to announce the signing of a significant strategic partnership with a Europe-headquartered, Fortune Global 50 Firm to establish an AI-driven operating model to transform and manage their Global Digital Workplace and Enterprise Networks.”
“The initial term of the agreement is from July 2026 to December 2031, extendable for a further period of 5 years. The estimated value of the agreement during the initial term is $1.14 billion. This is entirely a net new business for the Company,” it added.
HCLTech will construct and run an AI-based operating model for the client's digital workplace and enterprise network operations across the globe under the partnership. The company did reveal the customer’s name, but it has said it is based in Europe and ranks among the Fortune Global 50 companies.
The development represents a shift in how large global companies are adopting AI across their core technology infrastructure, workplace operations and network management, away from small AI pilots.
The agreement solidifies HCLTech's presence in AI-driven infrastructure services, digital workplace transformation and enterprise network management. In addition, it comes ahead of the company’s quarterly earnings, adding a large net-new engagement to its order book.
Earlier, HCLTech CEO and managing director C Vijayakumar had told CNBC that the company's goal is to “be the best AI solutions company in the world.”
The company describes itself as a global technology company with over 227,000 employees in 60 countries, offering services in AI, digital, engineering, cloud, and software.
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At the end of June, the company entered into a long-term contract with Finnish renewable energy company Neste to bundle its IT services and support AI-led operational transformation.
It also collaborated with Nokia on autonomous network optimisation of telecom networks with the help of AI-powered rApps and joined Circles and GreySkies to develop AI-powered telecom software solutions.
HCLTech also inked a deal for the acquisition of Jaspersoft (business intelligence platform) and supported sovereign AI startup Sarvam AI with its $234 million Series B funding round.