Wipro share surges after partnership with Nvidia
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Share price of IT major Wipro surged as much as 0.6% to hit an intraday high of ₹403 apiece on the BSE a day after the company announced its collaboration with Nvidia. On Wednesday, the share price of the IT major opened at ₹403 as against the previous closing price of ₹400.45. At 12:25 PM, the share price of the company was trading at 0.21% lower at ₹399.60. This is in line with the broader BSE Sensex, which was trading 0.25% or ₹166.53 lower at ₹65,764.24. The market capitalisation of the company stood at ₹2,08,603 crore.
The collaboration of these technologies with Wipro’s Enterprise Generative AI (WeGA) will enable Wipro develop custom models for speech and translation, as well as other large language models (LLM).
IT giant Wipro says it has announced an alliance with Nvidia, a world leader in AI(artificial intelligence) computing, to assist in expediting adoption of artificial intelligence in healthcare companies.
The company will use Nvidia’s AI software for the companies to develop AI across its healthcare ecosystem in the Affordable Care Act (ACA), Medicare, and Medicaid.
Nagendra Bandaru, President and Managing Partner, Wipro Enterprise Futuring said, “We are delighted to team with Nvidia to develop next-generation, scalable AI solutions to help our healthcare clients tap into the power of generative AI. This collaboration will allow us to deliver AI-enabled innovation for the healthcare industry at scale and drive healthcare solutions with advanced computing capabilities.”
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“Companies are eager to integrate multilingual, voice-enabled generative AI into business applications that are powered by the highest-performing, most energy-efficient solutions available,” said Manuvir Das, Vice President of Enterprise Computing at NVIDIA. “The NVIDIA AI platform supports Wipro’s ongoing commitment to provide its clients with the most advanced, secure, and reliable AI technology and services.”
This collaboration will enable these companies to provide innovations through AI for the healthcare industry. It will also enable Wipro to develop and custom models for speech and translation, as well as other large language models (LLM).
Moreover, the IT major has been teaming up with the healthcare sector in transforming the contact centre experience providing patients with accurate, personalised and quick responses in a customised manner based on their past medical history. The IT major anticipated its IT services profit growth in the December quarter at -3.5% to -1.5%. During the Q2 quarter, the earnings per share of the company stood at ₹5.06, an increase of 4.1% YoY.