AI reset erases nearly half of IT majors’ value

May 15, 2026

India’s top software exporters are projected to lose $200 billion in market value from their peaks due to disruptive AI technology. The aggregate market cap has already fallen by 45% since December 2024, with TCS and Wipro experiencing over 50% declines. This erosion, while significant in absolute terms, is not unprecedented for the sector.

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