Mumbai/IBNS, June 16 -- The share prices of HCL Tech on Tuesday surged following the company's strategic investment in sovereign Indian AI firm Sarvam AI, media reports said.

Sarvam, India's full-stack sovereign AI company, on Monday announced that it has raised $234 million in the first close of its $300 million Series B at a post-money valuation of $1.5 billion.

HCLTech and Bessemer Venture Partners invested in the round, with continued support from existing investors Khosla Ventures and Peak XV Partners.

The investment will fund Sarvam's continued research on training its next frontier model for agentic, coding, and cybersecurity use-cases, as well as access to compute at scale to expand its forward-deployed motion across key vertic...