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Wipro ADR Soars 18% on ServiceNow AI Partnership
29 May
Summary
- Wipro ADR surged over 18% on Thursday in US markets.
- Company announced an expanded partnership with ServiceNow.
- New collaboration integrates Wipro Intelligence with ServiceNow AI.
In recent trading, Wipro's American Depositary Receipts (ADRs) experienced a notable increase, jumping more than 18% on Thursday in the US market, reaching an intraday high of $2.49. This surge in ADRs preceded a similar upward movement in Wipro's shares on the Indian stock market, where they gained over 4% on Friday.
The positive market reaction stems from an expanded partnership between Wipro and ServiceNow. This strategic alliance will see Wipro integrate its comprehensive AI suite, Wipro Intelligence, with the ServiceNow AI Platform. The goal is to enable organizations to more efficiently initiate, orchestrate, and execute tasks across their enterprise systems.
Key Wipro Intelligence solutions, including SmartProcure, Telco Autonomous Networks, and Cyber Transform, will leverage the new capabilities offered by the ServiceNow AI Platform. This integration is expected to drive significant advancements in how businesses manage their operations through AI-powered solutions.
