New Delhi, Oct. 21 -- Share price gains by IT services companies following artificial intelligence (AI) partnership announcements may be ahead of the actual business benefits, as such partnerships become increasingly common, according to an ICICI Securities report.

In its report titled "AI partnership tiers become table stakes; execution is the real differentiator," the brokerage said investors would increasingly focus on actual AI deployments, revenue growth and profitability rather than partnership announcements alone.

"Given how attainable these thresholds are, such moves may run ahead of the economic value they signal," the report stated.

ICICI Securities noted that shares of a mid-sized Indian IT services company rose by a high si...