It’s a wrap: News this week (March 16–22, 2024)

There have been multiple developments this week on the tech front. From TCS’ mega deal to Databricks India growth, this is the list of the most important developments for a quick catch-up:

TCS’ mega-deal

Tata Consultancy Services (TCS) has signed a multimillion-dollar partnership to carry out end-to-end IT transformation Ramboll. Under the seven-year deal, TCS will modernise and streamline the Denmark-based engineering firm’s IT operating model for business growth, scalability, and cost optimisation. TCS will also manage Ramboll’s cloud and data centres, application development and maintenance, Cyber Security, and Digital Workplace. TCS will also induct more than 300 Ramboll IT employees in 12 countries.

This week, TCS also bagged a deal with Central Bank, a prominent Midwest regional bank in the US. The bank has chosen to employ TCS BaNCS to modernize its fundamental technology infrastructure, foster innovation, and fortify customer connections. TCS BaNCS is a universal financial solution that empowers financial institutions to enhance customer experience through innovative technologies.

Nvidia GTC wrap-up

Nvidia's CEO, Jensen Huang, kicked off the company's annual GPU Technology Conference (GTC) on Monday by unveiling a range of exciting products and advancements, from the Blackwell platform to the foundational model for humanoid robots. Nvidia also announced a range of partnerships with companies like NXP Semiconductors, Adobe, Cognizant, AWS, and others.

Databricks India growth

Artificial intelligence company and the maker of open-source large language model Dolly, Databricks, announced on Friday, the launch and availability of Databricks infrastructure on Google Cloud’s India (Mumbai) region to support the growing customer base. The California-headquartered company also said that it has registered 80% annualised growth in the last two years for the India region, driven by the demand for AI capabilities across Indian enterprises.

Accenture’s generative AI $600 mn bookings 

Global technology consultancy giant Accenture announced its second-quarter results on Thursday. The company reported revenues of $15.8 billion, flat in both US dollars and local currency, with consulting revenues of $8.0 billion and managed services revenues of $7.8 billion. The revenue is down from $16.22 billion for the first quarter of fiscal 2024. Another major highlight of the earning results was new bookings of $21.6 billion, which is company's second-highest-ever. Of this, Accenture had new generative AI bookings of over $600 million in the quarter for a total of $1.1 billion through the first half of the fiscal year.