After Infosys' research arm estimates APAC AI generative spending to rise by 3X in 2024, here's how IT stocks are faring today

Infosys Knowledge Institute estimated the highest growth of 160 per cent for China with potential expenditure of around Rs 17430 crore ($2.1 billion) in generative AI.

The TCS stock was trading down by 0.38 per cent, or Rs 14.35, at Rs 3793.85 around 12 noon on Monday.

IT Stock: Infosys Knowledge Institute, Infosys' research arm, has said that Asia Pacific (APAC) companies' spending on generative AI is expected to increase 3 times in 2024.

The research arm said that a total expenditure of Rs 28220 crore ($3.4 billion) is possible in Australia, New Zealand, China, Japan, India, and Singapore.

It said that compared to other regions, APAC is expected to see the highest growth of 140 per cent.

TRENDING NOW

The institute estimated the highest growth of 160 per cent for China with a potential expenditure of around Rs 17430 crore ($2.1 billion) in generative AI.

Australia and New Zealand are expected to clock 150 per cent growth.

After this report, let's see how the stocks of India's top IT firms are performing on BSE on Monday (January 29, 2024).