Wipro Ltd. shares rose between four% and five% on May 29, 2024, following an expanded partnership with U.S.-based software provider ServiceNow [1], [2], [3].
The collaboration signals a deeper push into artificial intelligence for the Bengaluru-based company. By scaling AI adoption and deploying agentic AI workflows across core enterprise functions, Wipro aims to improve the overall outlook for technology spending [1], [5].
Market reactions were immediate across different exchanges. In India, share price increases were reported up to four% [1], 4.5% [2], and five% [3]. The Nifty 50 index also rose 0.21% to 23,956.65 [6].
U.S. markets showed even more significant volatility for the company's American Depositary Receipts (ADRs). Some reports indicate ADRs gained 13% [5], while other data shows they jumped 18.54% to $2.430 on the New York Stock Exchange [3].
The partnership focuses on integrating agentic AI, systems capable of autonomous action, into business processes. This move is intended to help clients automate complex workflows and scale the efficiency of their core operations [1], [5].
“Wipro shares rose between four% and five% following an expanded partnership with U.S.-based software provider ServiceNow.”
The market's positive reaction to the ServiceNow deal reflects a broader investor appetite for tangible AI implementation over theoretical capabilities. By moving toward 'agentic' AI—which shifts from simple chatbots to autonomous agents that can execute tasks—Wipro is positioning itself to capture a larger share of enterprise digital transformation budgets as companies seek measurable productivity gains from AI investments.
