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Wipro

Wipro is a leading global IT services provider, with 175,000 employees. Based in Bengaluru, this India IT services firm leverages its offshore outsourcing model to derive over half of its revenue (57%) from North America. The company offers traditional IT services offerings: consulting, managed services, and cloud infrastructure services as well as business process outsourcing as a service.

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HPE and Nvidia collaborate to revolutionize enterprise AI landscape. The powerful partnership offers comprehensive solutions and strategic positioning for future growth.

Nvidia And Hewlett Packard Enterprise Join Forces To Dominate Enterprise AI Market: JPMorgan (UPDATED)

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Wipro Ltd (NYSE: WIT) reports Q4 results with revenue of INR222.1 billion and EPS of $0.07. IT Services revenue declined by 6.4% Y/Y. Stock gained 19% in 12 months.

Wipro Beats Revenue Expectations In Q4, Anticipates Steady Growth Driven By Tech Demand

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Wipro GE Healthcare plans to invest ₹80 billion ($960 million) in its Indian facilities over 5 years. Focused on bolstering local manufacturing aligned with &#34;Make in India,&#34; the investment targets PET CT scan devices for global export. Additionally, the company aims to produce CT scanners and MR breast coils domestically.

Wipro GE Healthcare Sets Sight on India&#39;s Healthcare Growth with $960M Investment

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Wipro Limited announced an agreement with Desjardins to modernize consumer banking services using its NetOxygen platform, aiming to improve customer experience and cost savings.

Why Indian IT Major Wipro Shares Are Trading Higher Today

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U.S. stocks traded lower, with the Dow Jones index falling more than 250 points on Tuesday.

Morgan Stanley Reports Q4 Results, Joins Boeing, Alcoa And Other Big Stocks Moving Lower On Tuesday

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Shares of  LQR House Inc. (NASDAQ: LQR) rose sharply in pre-market trading. Borg&#39;s investor group has acquired a 20% stake in LQR House.

LQR House shares jumped 16.1% to $4.25 in pre-market trading

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Why LQR House Shares Are Trading Higher By Around 16%; Here Are 20 Stocks Moving Premarket

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U.S. stocks traded mixed toward the end of trading, with the S&amp;P 500 and NASDAQ Composite turning higher on Friday.

The Dow traded down 0.28% to 37,607.16 while the NASDAQ rose 0.06% to 14,978.45. The S&amp;P 500 also rose, gaining, 0.11% to 4,785.71.

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Shares of Wipro Limited (NYSE: WIT) rose sharply during Friday’s session after the company reported third-quarter financial results, issued guidance and declared an interim dividend.

Wipro shares jumped 16.7% to $6.27 on Friday.

Why Wipro Shares Are Trading Higher By Over 16%? Here Are Other Stocks Moving In Friday&#39;s Mid-Day Session

Wipro reports Q3 FY24 results with revenue down 1.4% Q/Q. EPS meets consensus. Wipro&#39;s Q4 IT Services business segment outlook translates to sequential guidance of -1.5% to +0.5% in constant currency terms. 

Why Indian IT Major Wipro Shares Are Higher Today

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U.S. stock futures were mixed this morning, with the Dow futures gaining around 50 points on Friday.

Flexsteel Industries Posts Strong Preliminary Results, Joins Wipro, Sify Technologies And Other Big Stocks Moving Higher In Friday&#39;s Pre-Market Session

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Editor&#8217;s Note: The image and headline have been updated to clarify that the collaboration is with Hewlett Packard Enterprise.
At HPE Discover 2024, Hewlett Packard Enterprise Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) and Nvidia unveiled a powerful collaboration aimed at revolutionizing the <a href="https://www.benzinga.com/news/24/06/39406599/nvidia-magic-hewlett-packard-stock-continues-upward-movement-in-pre-market-after-announcing-ai-partn">enterprise AI landscape.</a>
HPE CEO Antonio Neri and NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO Jensen Huan emphasized their strategic focus on positioning HPE as a leader in AI solutions for enterprise customers.
According to JPMorgan analyst Samik Chatterjee, the collaboration between HPE and Nvidia is poised to deliver significant value to enterprise customers. The strategic focus on simplifying AI adoption through comprehensive, co-developed solutions and robust support systems positions both companies favorably for future growth.
Also Read: <a href="https://www.benzinga.com/news/earnings/24/06/39405641/hewlett-packard-enterprise-accenture-and-3-stocks-to-watch-heading-into-thursday">Hewlett Packard Enterprise, Accenture And 3 Stocks To Watch Heading Into Thursday</a>
<h2 class="wp-block-heading">The New Powerhouse: HPE and Nvidia AI Solutions</h2>
HPE announced "NVIDIA AI Computing by HPE," a robust portfolio designed to simplify and accelerate AI adoption in the enterprise sector. This groundbreaking initiative integrates Nvidia's cutting-edge compute capabilities (including L40S, H100, H200, GH200, GB200) and advanced networking solutions (Spectrum-X, InfiniBand) with HPE's server and storage solutions (ProLiant, Cray), as well as HPE's GreenLake cloud services, Chatterjee noted.
The centerpiece of this collaboration, "HPE Private Cloud AI," said Chatterjee, offers a cloud-like experience with full life-cycle management for enterprise AI workloads. This includes support for inference, fine-tuning and retrieval-augmented generation (RAG), while ensuring security, transparency and governance. These are often key considerations for enterprise customers.
<h2 class="wp-block-heading">Joint Go-To-Market Efforts</h2>
Chatterjee also highlighted that HPE and Nvidia are investing heavily in joint go-to-market strategies to ensure successful market penetration. This includes AI workshops and competency programs designed to enhance skills of the sales teams and channel partners. 
Early adopters such as Deloitte, HCLTech, Infosys Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INFY#NYSE">INFY</a>), TCS and Wipro Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WIT#NYSE">WIT</a>) are already on board, highlighting the momentum behind this initiative.
<h2 class="wp-block-heading">Strategic Positioning</h2>
Chatterjee believes the partnership with Nvidia marks a significant shift for HPE, which has lagged behind competitors like Dell Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>) and Super Micro Computer Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) in capturing demand from Tier 2 cloud service providers. 
By combining their strengths, HPE and Nvidia aim to leapfrog the competition in the enterprise AI market.
The HPE-Nvidia alliance represents a formidable force in the enterprise AI market. These tech giants are set to redefine AI solutions for enterprise customers, offering a compelling value proposition that is hard to ignore.
Read Next: <a href="http://8 Large Cap Stocks That Outperformed Nvidia Over The Past Year">8 Large Cap Stocks That Outperformed Nvidia Over The Past Year</a>
Photo: Shutterstock

Wipro Chosen By Hanesbrands To Drive Digital Transformation And Business Growth; Services Include AI, Cloud, Data Analytics, Application Management, Cybersecurity, And Consulting

Wipro To Transform Automotive Software Development With Siemens Collaboration; Integrates With PAVE360 For Enhanced Solutions

Wipro Announces Collaborate With Hewlett Packard Enterprise To Launch A GenAI Solution Within The Customer Experience Center At Wipro Cloud Studio's Kodathi Office

The SaaS-based platform accelerates adoption of GenAI, boosts efficiency and productivity across all business functions
Wipro (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WIT#NYSE">WIT</a>, BSE: 507685, NSE: WIPRO)))), a leading technology services and consulting company, today announced the launch of the <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fapc01.safelinks.protection.outlook.com%2F%3Furl%3Dhttps%253A%252F%252Flab45.ai%252F%26data%3D05%257C02%257Claura.barnes%2540wipro.com%257C6b642647d64a4d409aae08dc872be40f%257C258ac4e4146a411e9dc879a9e12fd6da%257C0%257C0%257C638533869833227261%257CUnknown%257CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%253D%257C0%257C%257C%257C%26sdata%3DvOKAXoGcrQd0aFEhgrX6LwyUKxC95gnHyTOSUB1GzD0%253D%26reserved%3D0&amp;esheet=54043602&amp;newsitemid=20240610365444&amp;lan=en-US&amp;anchor=Lab45+Artificial+Intelligence&amp;index=1&amp;md5=8fb77982fb20d9c8502bc3efee583fda">Lab45 Artificial Intelligence</a> (AI) Platform, which leverages Generative AI (GenAI) machine learning (ML), and deep learning technologies to enable companies to realize enhanced efficiencies, transform business functions, and enable industry-specific solutions. <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fapc01.safelinks.protection.outlook.com%2F%3Furl%3Dhttps%253A%252F%252Fwww.wipro.com%252Flab45%252F%26data%3D05%257C02%257Claura.barnes%2540wipro.com%257C6b642647d64a4d409aae08dc872be40f%257C258ac4e4146a411e9dc879a9e12fd6da%257C0%257C0%257C638533869833237580%257CUnknown%257CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%253D%257C0%257C%257C%257C%26sdata%3DO5ApRqCfsD1E5GB1mONbKNMSafQXfXQxT1kB4RuXm%252FM%253D%26reserved%3D0&amp;esheet=54043602&amp;newsitemid=20240610365444&amp;lan=en-US&amp;anchor=Lab45&amp;index=2&amp;md5=05465f65bc879cdeefcbf1d8052954d4">Lab45</a> is Wipro's Innovation Lab and the Lab45 AI platform is available to all Wipro employees and clients.

Wipro Launches The Lab45 AI Platform Designed To Increase Efficiencies And Transform Business Functions

CSCO

Wipro Expands Retail Media Offering In Collaboration With Cisco And AT&T, Wipro VisonEdge+ Allows Retailers To Enhance Customer Experience And Drive Incremental Ad Revenue Within Physical Stores

Wipro Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WIT#NYSE">WIT</a>, BSE: 507685, NSE: WIPRO)))), a leading technology services and consulting company, today announced the appointment of Sanjeev Jain as the Chief Operating Officer effective immediately. Sanjeev succeeds Amit Choudhary, who is stepping down to pursue opportunities outside the organization. Sanjeev will report to Srinivas Pallia and will continue to be a member of Wipro's Executive Committee.

Management

Wipro Appoints Sanjeev Jain As COO, Effective Immediately; Amit Choudhary, To Step Down To Pursue Opportunities Outside The Organization

Wipro Hydraulics, the hydraulic cylinders and components manufacturing business of Wipro Infrastructure Engineering, announced it has entered into a definitive agreement to acquire Mailhot Industries, a Novacap portfolio company, headquartered in Quebec, Canada, subject to customary closing conditions including regulatory approvals.
This press release features multimedia. View the full release here: <a href="https://www.businesswire.com/news/home/20240508985521/en/">https://www.businesswire.com/news/home/20240508985521/en/</a>
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Established in 1956, Mailhot Industries has become a North American leader in hydraulic cylinder manufacturing. Mailhot Industries specializes in the refuse trucks and snow removal equipment market and is known for the reliability of their products in demanding work environments. The acquisition also includes JARP Industries, a part of Mailhot Industries and a leader in custom hydraulic and remanufactured cylinders for segments including utilities, mining, defense, and oil &amp; gas.

Wipro Infrastructure Engineering's Hydraulics Business Enters Definitive Agreement To Acquire Mailhot Industries; Financial Terms Of The Transaction Not Disclosed

Wipro And Kognitos Announced A Collaboration To Deploy Enterprise Ready GenAI-based Business Automation Solutions

Wipro (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WIT#NYSE">WIT</a>, BSE: 507685, NSE: WIPRO)), a leading technology services and consulting company, today announced that it is collaborating with Microsoft to launch a suite of cognitive assistants for financial services powered by generative artificial intelligence (GenAI): Wipro GenAI Investor Intelligence, Wipro GenAI Investor Onboarding, and Wipro GenAI Loan Origination.
Harnessing the power of GenAI, the Wipro cognitive assistants will provide financial professionals with deep market intelligence and relevant and timely information on investment products and investor behavior. The solutions will also accelerate the investor onboarding and loan origination process by significantly reducing the time it takes to validate documents and providing meaningful and contextual responses to investor queries throughout the process.&nbsp;
&nbsp;The Wipro cognitive assistants, powered by Azure OpenAI, will fully integrate with existing mobile and digital platforms, providing a seamless user experience and a unified source of information to both financial services professionals and their clients.

MSFT

Wipro Collaborates with Microsoft to Launch a Suite of Generative AI-Powered Virtual Assistants for Financial Services, Financial Terms Undisclosed

Wipro Has Been Selected By Independent Health, Western New York's 5-star Rated Medicare Advantage Plan, To Implement Wipro's Medicare Prescription Payment Plan Platform For The Upcoming Open Enrollment Period

WIIM

Wipro shares are trading higher following Friday's Q4 earnings.

Technology services and consulting company&nbsp;Wipro Ltd&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WIT#NYSE">WIT</a>)&nbsp;shares are trading higher after the company reported&nbsp;fourth-quarter results.
The company reported gross revenue of INR222.1 billion ($2.67 billion), flat Q/Q, beating the consensus of&nbsp;<a target="_blank" href="https://www.wipro.com/investors/" rel="noreferrer noopener">$2.65 billion</a>.&nbsp;
EPS of 7 cents was in line <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">with the consensus</a>.
IT Services revenue declined by 6.4% Y/Y to $2.66 billion. Adjusted constant currency IT Services segment revenue decreased by 6.6% Y/Y.
IT Services' operating margin for the quarter was 16.4%, versus 17%&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/22/04/26895936/wipro-shares-drop-post-q4-misses-consensus" rel="noreferrer noopener">a year ago</a>.&nbsp;
Net income was INR28.3 billion ($341 million), down from INR30.7 million a year ago. Operating cash flow was at INR52.2 billion ($626.1 million).
Total bookings stood at $3.6 billion, with large deal bookings worth $1.2 billion, up by 9.5% Y/Y.
The board confirmed the interim dividend of INR1, which it will consider the final dividend for the financial year 2023-2024.
Q1 Outlook:&nbsp;Wipro expects IT Services business revenue of $2.617 billion&nbsp;– $2.670&nbsp;billion, (-1.5)% to (+0.5)% Q/Q in constant currency terms.&nbsp;Total&nbsp;revenue&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">consensus was $2.690 billion</a>.
Wipro&nbsp;stock gained over 19% in the last 12 months. Investors can gain exposure to the stock via&nbsp;VanEck ETF Trust VanEck Digital India ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DGIN#NYSE">DGIN</a>) and&nbsp;ALPS Emerging Sector Dividend Dogs ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EDOG#NYSE">EDOG</a>).
Price Action: WIT shares were up 3.5% to $5.34 at last check Friday.
Now Read: <a href="https://www.benzinga.com/news/earnings/24/04/38333186/increase-in-card-member-spending-boosts-amex-q1-revenue-company-eyes-steady-annual-growth">Increase In Card Member Spending Boosts Amex Q1 Revenue, Company Eyes Steady Annual Growth</a>
Image generated using artificial intelligence via Midjourney.

Outlook for the Quarter ending June 30, 2024 We expect revenue from our IT Services business segment to be in the range of $2,617 million to $2,670 million&#x2A;. This translates to sequential guidance of (-)1.5% to +0.5% in constant currency terms. &nbsp;

Wipro Expects Q1 IT Services Business Segment Revenue of  $2.617B-$2.670B Vs Total Revenue Consensus of $2.69B

Wipro (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WIT#NYSE">WIT</a>) reported quarterly earnings of $0.07 per share which met the analyst consensus estimate. This is unchanged from the same period last year. The company reported quarterly sales of $2.67 billion which beat the analyst consensus estimate of $2.65 billion by 0.57 percent. This is a 5.56 percent decrease over sales of $2.82 billion the same period last year.

Wipro Q4 EPS $0.07, Inline, Sales $2.67B Beat $2.65B Estimate

Wipro shares are trading higher following Q4 earnings.

Wipro Reports Q4 Revenue of INR228.612B Vs INR238.215B YoY, EPS of INR5.41 Vs INR5.60 YoY

Wipro Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WIT#NYSE">WIT</a>, BSE: 507685, NSE: WIPRO)))), a leading technology services and consulting company, announced today the appointment of Malay Joshi as Chief Executive Officer of Wipro Americas 1 Strategic Market Unit, effective immediately. Malay succeeds Srini Pallia, who was appointed as <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.wipro.com%2Fnewsroom%2Fpress-releases%2F2024%2Fwipro-appoints-srini-pallia-as-ceo-and-managing-director%2F&amp;esheet=53927676&amp;newsitemid=20240410776006&amp;lan=en-US&amp;anchor=Chief+Executive+Officer+and+Managing+Director+of+Wipro+Limited+on+April+6&amp;index=1&amp;md5=962bac2b422d27e3b9355df9382f5356">Chief Executive Officer and Managing Director of Wipro Limited on April 6</a>. Malay will also join the <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.wipro.com%2Fleadership%2Fexecutive-board%2F&amp;esheet=53927676&amp;newsitemid=20240410776006&amp;lan=en-US&amp;anchor=Wipro+Executive+Board&amp;index=2&amp;md5=ae870b312bfdb43730a85c77da187cbb">Wipro Executive Board</a>.
Malay was previously the Senior Vice President and Business Unit Head, leading the Communications, Media, Tech, Retail, Travel, Hospitality and Public Sector industries, which make up one of Wipro's largest business units globally. In this role, he was responsible for helping clients drive successful enterprise transformations, enhancing client experience (CX), strengthening delivery, and ensuring consistent revenue growth in the sectors he leads.
"Malay has been leading one of the largest business units at Wipro and has delivered the highest CAGR over a decade across multiple global businesses," said Srini Pallia, Chief Executive Officer and Managing Director, Wipro Limited. "His client centricity and deep understanding of the industry makes him an ideal fit to lead the Americas 1 strategic market. He is the perfect leader to take the helm of this fast-growing market and write its next chapter of our growth."
Malay joined Wipro in 1996 and has had an extensive career spanning over 28 years in various leadership roles across functions, industries, and geographies. He has a strong background in delivery, consultative sales, and client engagement.
Malay holds a Bachelor's degree in Information Technology Engineering and has graduated from Harvard Business School's Leading Global Businesses Executive Program and Advanced Program Management from Stanford University.
"I am honored to assume the role of CEO Americas 1, a market that is brimming with opportunity and potential," said Malay Joshi, Chief Executive Officer, Americas 1 Strategic Market Unit, Wipro Limited. "I am looking forward to leading our talented team toward a future where we can harness the power of technology to continue to enhance our value proposition for our clients and communities."
Malay is a member of Wipro's Culture Council. He will be based out of Wipro's New York City office.

Wipro Appoints Malay Joshi As Chief Executive Officer For Americas 1 Strategic Market Unit, Effective Immediately

Reported Saturday, Wipro Named Srini Pallia As CEO & Managing Director, Effective Immediately

Wipro GE Healthcare, a joint venture between India&#8217;s Wipro Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WIT#NYSE">WIT</a>) and GE Healthcare Technologies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GEHC#NASDAQ">GEHC</a>), announced plans to invest ₹80 billion ($960 million) in its manufacturing and research and development facilities in India over the next five years. 
The Bengaluru-based medical technology company aims to bolster local manufacturing in alignment with the Indian government&#8217;s &#8220;Make in India&#8221; initiative.
The investment will primarily focus on enhancing the production capacity of Wipro GE Healthcare&#8217;s positron emission tomography and computed tomography (PET CT) diagnostic scan devices for export to 15 countries, supporting the company&#8217;s expansion efforts.&nbsp;
Additionally, the company intends to manufacture other high-end medical technology devices, such as CT scanners and MR breast coils, within India.
&#8220;As India envisions to be among the top five global manufacturing hubs for medical devices, we are committed to the national healthcare agenda,&#8221; Reuters noted, citing&nbsp;Chaitanya Sarawate, Managing Director of Wipro GE Healthcare.&nbsp;
Established in 1990, Wipro GE Healthcare has been actively participating in the government&#8217;s initiatives to boost local manufacturing.&nbsp;
The company inaugurated a greenfield manufacturing unit in Bengaluru in 2022 under the production-linked incentive scheme, emphasizing its strategic alignment with India&#8217;s industrial policies.
With four manufacturing plants in Bengaluru, Wipro GE Healthcare is poised to reinforce its position in both domestic and global markets.&nbsp;
Price Action:&nbsp;GEHC shares are up 0.67% at $88.87 on the last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by Sundry Photography via Shutterstock

Wipro GE Healthcare Sets Sight on India's Healthcare Growth with $960M Investment

Wipro appoints Sanjeev Jain as COO

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Wipro's AI Leap: Navigating Risks and Competition in the Race for Tech Supremacy

Wipro expands retail media offering with Cisco and AT&T

Wipro (WIT) has released an update. Wipro Limited has successfully conducted a remote e-voting process, resulting in the shareholder-approved appoi...

Wipro Shareholders Approve New CEO Appointment

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
System integrators <a href="https://www.techtarget.com/searchitchannel/definition/systems-integrator">combine multiple technology</a> products, usually made by a variety of companies, on behalf of clients. Among the world&rsquo;s best-known system integrators are Accenture (NYSE:<a href="https://investorplace.com/stock-quotes/acn-stock-quote/">ACN</a>) and India&rsquo;s Wipro (NYSE:<a href="https://investorplace.com/stock-quotes/wit-stock-quote/">WIT</a>). Many companies around the world are looking to utilize AI. Indeed, according to a recent survey by Gartner, <a href="https://www.gartner.com/en/newsroom/press-releases/2018-02-13-gartner-says-nearly-half-of-cios-are-planning-to-deploy-artificial-intelligence">46% of chief information officers</a> globally are seeking to implement AI systems, but only 4% have experience with launching AI. As a result, many if not most of the companies which decide to utilize AI on a wide scale for the first time are likely to hire system integrators. For investors who want to exploit this trend, here are the three best AI systems integrator stocks to buy now.



<h2>C3.ai (AI)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/02/c3ai-ai-stock-1600-300x169.jpg" alt="C3.ai (AI) logo on a smartphone with computer screen showing graph in background, symbolizing AI stock"><div>Source: shutterstock.com/Below the Sky</div></div>C3.ai (NYSE:<a href="https://investorplace.com/stock-quotes/ai-stock-quote/">AI</a>) is known for creating and marketing its own software which enables companies to easily implement AI. However, C3.ai also helps its <a href="https://c3.ai/industries/enterprise-ai-for-utilities/">clients utilize systems</a> from other vendors, including third party data, sensor networks and <a href="https://c3.ai/c3-iot-microsoft-strategic-partnership/">applications</a> from the major cloud infrastructure firms, including Microsoft (NASDAQ:<a href="https://investorplace.com/stock-quotes/msft-stock-quote/">MSFT</a>). As a result, I view C3.ai as a system integrator.



The firm <a href="https://c3.ai/company/">has accumulated</a> an impressive list of customers, including Shell (NYSE:<a href="https://investorplace.com/stock-quotes/shel-stock-quote/">SHEL</a>), Bank of America (NYSE:<a href="https://investorplace.com/stock-quotes/bac-stock-quote/">BAC</a>), the U.S. Air Force, Duke Energy (NYSE:<a href="https://investorplace.com/stock-quotes/duk-stock-quote/">DUK</a>) and Raytheon Technologies. And C3.ai has become very ubiquitous in federal agencies, as it closed 65 deals with Washington last year alone. What&rsquo;s more, the company&rsquo;s revenue from the federal government jumped over 100% last year.



On May 29, C3.ai reported very impressive <a href="https://seekingalpha.com/pr/19741495-c3-ai-announces-fiscal-fourth-quarter-and-full-fiscal-year-2024-financial-results">Q4 results</a> as its revenue jumped 20% versus the same period a year earlier to $86.6 million. Moreover, its net cash used in operating activities dropped to $62.36 million from $115.69 million in Q1 of 2023.



<h2>Booz Allen Hamilton (BAH)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/10/bah-stock-1-300x169.jpg" alt="Booz Allen Hamilton (BAH) logo on a corporate building"><div>Source: Jer123 / Shutterstock.com</div></div>Booz Allen Hamilton (NYSE:<a href="https://investorplace.com/stock-quotes/bah-stock-quote/">BAH</a>) <a href="https://washingtontechnology.com/companies/2024/05/booz-allens-ai-outlook-centers-vertical-scaling/396887/">specializes in</a> carrying out system integration on behalf of federal agencies. AI is becoming a major revenue generator for the company. Indeed, it estimates about 5.6% of its revenue, or about $600 million, during fiscal year 2023 was related to AI. The firm is looking to nearly double that number to $1 billion in the next couple of years.



Since the Biden Administration recently ordered federal agencies to step up their use of AI, I believe that Booz Allen can meet its goal, greatly boosting its financial results and BAH stock in the process.



The company reported <a href="https://investors.boozallen.com/static-files/60052e3d-659f-4111-bdf4-0e03d4a98507">strong overall Q4 2023 results</a> as its top line climbed 14% year-over-year to $2.77 billion. Meanwhile, its operating income <a href="https://seekingalpha.com/symbol/BAH/income-statement">nearly doubled</a> to $254 million versus $138.8 million YOY.



Booz Allen&rsquo;s high leverage to the federal government which is poised to rapidly implement AI make Booz one of the best AI system integrator stocks.



<h2>IBM (IBM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/05/ibm-building-1600-300x169.jpg" alt="Photo of IBM (IBM) building as seen through the canopy of a tree. IBM logo is in large letters on side of building."><div>Source: shutterstock.com/LCV</div></div>In recent weeks, IBM (NYSE:<a href="https://investorplace.com/stock-quotes/ibm-stock-quote/">IBM</a>) has made several key deals that should enable it to meaningfully expand its AI integration business.



On May 8, the company <a href="https://seekingalpha.com/pr/19717610-ibm-and-sap-plan-to-expand-collaboration-to-help-clients-become-next-generation-enterprises?hasComeFromMpArticle=false">disclosed that it would partner</a> with European software giant SAP (NYSE:<a href="https://investorplace.com/stock-quotes/sap-stock-quote/">SAP</a>) to create new generative AI and cloud solutions. Specifically, IBM will add AI functionality to SAP&rsquo;s offerings. The agreement should lead to IBM getting many new deals to help SAP&rsquo;s many customers learn how to effectively integrate and utilize these new capabilities. Indeed, the companies noted that IBM&rsquo;s consultants will &ldquo;transform the way they deliver SAP solutions to boost productivity and mitigate risk by leveraging generative AI.&rdquo;



On May 15, IBM <a href="https://seekingalpha.com/news/4106984-palo-alto-networks-and-ibm-announces-partnership-to-deliver-ai-powered-security-offerings-for-customers">announced that its consultants</a> would begin integrating Palo Alto&rsquo;s (NASDAQ:<a href="https://investorplace.com/stock-quotes/panw-stock-quote/">PANW</a>) AI-powered security products to customers. Given the high popularity of Palo Alto&rsquo;s IT security tools, the deal should be a positive needle mover for IBM.



Finally, IBM <a href="https://seekingalpha.com/news/4094103-ibm-tumbles-but-hashicorp-acquisition-should-create-synergies-bofa">recently said</a> that it would buy software maker HashiCorp (NASDAQ:<a href="https://investorplace.com/stock-quotes/hcp-stock-quote/">HCP</a>). According to Bank of America, the deal will make IBM&rsquo;s software for private clouds more appealing. As a result, IBM will likely get more cloud migration deals, many of which c0uld also include AI integration opportunities, going forward.



On the date of publication, Larry Ramer did not hold (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div>Larry Ramer has conducted research and written articles on U.S. stocks for 15 years. He has been employed by The Fly and Israel&rsquo;s largest business newspaper, Globes. Larry began writing columns for InvestorPlace in 2015. Among his highly successful, contrarian picks have been SMCI, INTC, and MGM. You can reach him on Stocktwits at @larryramer.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/06/the-3-best-ai-system-integrator-stocks-to-buy-now-may-2024/">The 3 Best AI System Integrator Stocks to Buy Now: May 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

The 3 Best AI System Integrator Stocks to Buy Now: May 2024

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