OpenAI's over $4 billion-backed company sparks selloff in Indian IT
NewsBytes | May 14, 2026 6:40 PM CST
AI could squeeze Indian IT profits
OpenAI's move has people worried that Indian IT companies could face new challenges, especially since most of their revenue comes from the US
Prashasta Seth, CEO at Prudent Investment Managers, pointed out that while Indian firms have handled tech changes before, AI might squeeze profits and push them to focus more on advanced AI services.
Meanwhile, even big names like HCL Tech and Tech Mahindra saw their stocks drop by up to 5%.
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