Shares of HCLTech gained nearly 3 per cent on Tuesday after the technology major announced a significant investment in Sarvam AI, one of India’s leading sovereign artificial intelligence startups. The move highlights HCLTech’s growing focus on AI-driven innovation and next-generation digital technologies.
HCLTech Acquires 10.46% Stake In Sarvam AI
HCLTech has agreed to invest ₹1,427.25 crore in Axonwise Private Limited, popularly known as Sarvam AI. Upon completion of the transaction, the IT services company will hold 41,421 equity shares, representing a 10.46 per cent stake in the AI startup.
The investment forms part of Sarvam AI’s ongoing Series B funding round.
Sarvam AI Raises $234 Million In Series B Round
Sarvam AI has secured $234 million in the first close of its $300 million Series B funding round, achieving a post-money valuation of $1.5 billion.
The funding round saw participation from HCLTech and venture capital firm Bessemer Venture Partners, alongside continued support from existing investors Khosla Ventures and Peak XV Partners.
Focus On Sovereign AI For India
Sarvam AI is building a full-stack sovereign AI ecosystem designed specifically for India’s needs. The company is working across AI research, foundational models, infrastructure, and enterprise applications aimed at enabling large-scale adoption of artificial intelligence.
According to Sarvam AI Co-Founder Pratyush Kumar, the company is focused on creating AI systems that understand Indian languages, process local documents, and deliver affordable intelligence solutions for enterprises and government organisations.
He said the company is developing models capable of operating at India’s scale while allowing enterprises to own and manage their own sovereign AI infrastructure.
HCLTech Stock Performance
Following the announcement, HCLTech shares opened at ₹1,141 and climbed to an intraday high of ₹1,161.50. Despite the rally, the stock remains close to its 52-week low of ₹1,089.50.
The company currently has a market capitalisation of approximately ₹3.11 lakh crore and trades at a price-to-earnings ratio of 18.74.
Strategic Significance
The investment underscores HCLTech’s commitment to expanding its presence in the rapidly evolving AI sector. As demand for sovereign and enterprise-focused AI solutions grows globally, the partnership is expected to strengthen both companies’ capabilities in developing India-centric artificial intelligence technologies.
With government and enterprise adoption of AI accelerating, the deal positions HCLTech to benefit from one of the fastest-growing segments in the technology industry.