Mumbai, May 12 -- The move rattled investor sentiment across Indian IT services companies as the new venture directly targets large-scale AI deployment, workflow redesign and enterprise transformation - areas traditionally dominated by global IT consulting and outsourcing firms.
According to OpenAI, the new company will embed "Forward Deployed Engineers" inside client organisations to identify AI opportunities, redesign workflows and deploy AI systems at scale.
The announcement triggered a broad selloff in Indian IT stocks. The Nifty IT index slumped 3.59% to 28,276.65.
Persistent Systems dropped 4.95%, while Tata Consultancy Services fell 4.09%. LTIMindtree declined 3.76% and Infosys slipped 3.70%.
Tech Mahindra lost 3.53%, while HCL T...