HCL Tech jumps after investing Rs 1,427 crore in Sarvam AI

Shares of HCL Technologies gained 3.27% to Rs 1,155.90 after the company announced a strategic investment of Rs 1,427.25 crore in Bengaluru-based artificial intelligence startup Sarvam AI.

HCL Tech will acquire a 10.46% stake in Sarvam AI through the purchase of 41,421 equity shares. The transaction, which is expected to be completed within two weeks, will be entirely funded through cash consideration.

The investment forms part of Sarvam AI's $300 million Series B funding round. The company said it has raised $234 million in the first close of the round at a post-money valuation of $1.5 billion, with HCL Tech participating as the lead strategic investor.

Sarvam AI develops foundation models and AI products across text, speech, vision and document processing. The company focuses on sectors such as banking, insurance, government technology and defence. It reported unaudited revenue of Rs 45.1 crore in FY26, compared with Rs 1.5 crore in FY25.

HCL Tech said the investment will support Sarvam AI's research and development efforts, including the training of next-generation AI models for agentic AI, coding and cybersecurity applications. The partnership is also expected to help HCL Tech develop industry-specific AI models and sovereign AI solutions for enterprise and government clients.

The company said the collaboration will strengthen its AI offerings by combining HCL Tech's enterprise expertise and global customer relationships with Sarvam AI's model development and infrastructure capabilities.

HCL Technologies is a global technology company. It delivers capabilities centered around AI, digital, engineering, cloud and software, powered by a broad portfolio of technology services and products.

The company reported 6.4% fall in consolidated net income to Rs 4,488 crore as revenues rose by 0.3% to Rs 33,981 crore in Q4 FY26 as compared with Q3 FY26. For FY27, the company expects revenue to grow by 1.0% to 4.0% YoY while the Services revenue growth is expected to be between 1.5% and 4.5% YoY in CC terms.

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