Wipro slips despite tech giant inking deals with IBM and Intel Foundry

Wipro Share Price: Wipro shares are trading lower on Wednesday (February 21, 2024) despite the tech company signing deals with IBM and Intel Foundry. The stock of the tech giant was trading lower by 0.60 per cent, or Rs 3.20, at Rs 528.60 at 10:59 am on Wednesday.  

Wipro inks deal with Intel Foundry 

Wipro on Wednesday announced an expanded collaboration with Intel Foundry to accelerate chip design innovation.

As the key design services and alliance partner, Wipro will work with Intel Foundry to accelerate the development of Intel’s most advanced process nodes, including the Intel18A process node, said Wipro in a statement on Wednesday.

"Wipro's design services strength paired with Intel Foundry’s manufacturing prowess will enable clients, especially across heavy industries, such as automotive, industrial, and telecommunications sectors, to leverage Gen AI-driven designs and foundry services to drive ongoing innovation," said Wipro.

Wipro signs pact with IBM

Wipro on Tuesday announced the launch of Wipro Enterprise Artificial Intelligence (AI)-Ready Platform, a new service that will allow clients to create their enterprise-level, fully integrated and customised AI environments.

"The Wipro Enterprise AI-Ready Platform leverages the IBM watsonx AI and data platform, including watsonx.ai, watsonx.data, and watsonx.governance and AI assistants, to deliver to clients an interoperable service that helps accelerate AI adoption. This new service enhances operations with a suite of capabilities spanning across tools, large language models (LLMs), streamlined processes, and robust governance, and lays the foundation for future industry analytic solutions to be built on watsonx.data and AI," said Wipro.