OpenAI move revives fears, pushing Indias IT shares to three-year low
Tech OpenAI move revives fears, pushing Indias IT shares to three-year low India‘s technology sector just had one of its worst days in recent memory, and the catalyst wasn’t a missed earnings report or a client bankruptcy. It was OpenAI announcing it wants to do what Indian IT companies do, but with AI doing the heavy lifting. The Nifty IT index fell approximately 3.7% to around 28,235, its lowest level since May 2023. Every single one of the index‘s 10 constituents closed in negative territory. LTIMindtree led the rout with a decline of around 5%, followed by Tech Mahindra at roughly 4.4%. Infosys and TCS, the sector’s heavyweights, shed between 2% and 5%. What OpenAI actually did OpenAI introduced what it‘s calling a “Deployment Company,” a new business unit staffed with forward deployed engineers whose job is to help enterprises integrate AI into their operations. The company also acquired Tomoro, a consulting firm, signaling that OpenAI isn’t content with just building AI models. It wants to sell the implementation, too. In English: OpenAI is moving into the enterprise consulting and integration business. Thats the exact territory where Indian IT giants like Infosys, TCS, Wipro, and HCL Technologies have built multi-billion-dollar empires over the past three decades. The








