India’s IT giant Infosys, the country’s second-largest software services exporter, has announced signing a massive deal worth an estimated $2 billion with an existing client. The five-year contract, announced on Monday, focuses on delivering artificial intelligence (AI) and automation services.

As stated in the company’s stock exchange filing, the substantial deal will encompass AI and automation-related development, modernization, and maintenance services. However, the client’s identity remains confidential at this stage.

The rise of AI has been astronomical, with notable advances like the Microsoft-backed OpenAI’s generative chatbot, ChatGPT, captivating global audiences in late 2022. As a result, businesses worldwide have been intensifying their investments in AI, eager to leverage its transformative potential.

Infosys’ announcement comes on the heels of its rival, Tata Consultancy Services (TCS), declaring its intent to train 25,000 engineers for certification on Microsoft’s Azure Open AI. Additionally, Wipro, another competitor, plans to pour $1 billion into AI over the next three years.

Infosys, headquartered in Bengaluru, further demonstrated its commitment to AI with the launch of Infosys Topaz, a platform for generative AI, in late May. This platform is expected to play a significant role in the delivery of the services outlined in the new contract.

Investors and industry watchers eagerly await the company’s first quarter results, set to be announced on July 20. This latest AI-centric deal is expected to significantly influence the company’s strategic direction and financial performance in the coming years.

Reporting by Navamya Ganesh Acharya in Bengaluru; Edited by Nivedita Bhattacharjee.