Wipro’s AI-driven partnership with ServiceNow sparks sharp rise in US ADRs

Wipro’s American Depositary Receipts climbed sharply after the Indian IT services group announced an expanded partnership with ServiceNow aimed at pushing agentic artificial intelligence deeper into enterprise operations.

According to the Economic Times, the ADRs rose by as much as 18.5% after the deal was unveiled, while other market reports said the New York-listed shares eventually gained 18.54% to $2.43. Wipro’s stock in India also advanced, with local shares rising by ...

The partnership is designed to combine Wipro Intelligence, the company’s suite of AI-enabled platforms and services, with the ServiceNow AI Platform. The aim is to automate and coordinate work more effectively across corporate systems, including IT, human resources, procurement and cybersecurity, as well as wider operational functions.

Business Standard reported that the collaboration is intended to close the gap between AI ambition and real-world deployment at scale. Wipro said the integration would help improve both orchestration and governance, allowing tasks to move more smoothly from initiation to execution across enterprise workflows.

The agreement also covers several Wipro offerings that will use the combined technology stack, including SmartProcure, Telco Autonomous Networks and Cyber Transform. ServiceNow president, chief operating officer and chief product officer Amit Zavery was quoted by the Economic Times as saying, “That’s what this partnership makes real.”

The move comes as Wipro remains in focus for investors not only because of its AI strategy, but also because of its share buyback in India, which Moneycontrol said is due on June 5 at a price of Rs 250 per share.

Source: Noah Wire Services