# AI slowdown calls lift Indian IT ADRs, Infosys up 6 percent

2026-09-14T20:41:25+00:00 | Business & Economy | Indian Opinion Desk

Corroboration: 3 independent outlets

Infosys and Wipro American depositary receipts surged up to 6 percent in US trade on Monday, even as Wall Street technology stocks sold off after leading AI developers called for a slower pace of AI development. Cognizant, ServiceNow, and Accenture ADRs also gained 5 to 8 percent. Livemint reports that the divergence comes as Anthropic CEO Dario Amodei and OpenAI CEO Sam Altman both backed a slowdown in advanced AI, raising concerns about future spending on infrastructure and semiconductors. The Nifty IT Index remains 37 percent below its record high and trades at about 16 times forward earnings, two standard deviations below its five-year average, according to Moneycontrol. The gains offer a potential positive opening for domestic IT stocks when Indian markets resume trading on Tuesday after a Monday holiday. The US Federal Reserve announces its policy decision on September 16, with markets pricing a 90 percent probability of a 25-basis-point hike. US bond yields and the evolving AI-spending debate will remain key factors for the sector.

## Indian Opinion Analysis

The three sources agree on the core event: Indian IT ADRs gained sharply even as US tech stocks sold off on AI-developer calls for a slower pace of development. NDTV Profit leads with the market move and frames it as a possible rotation toward software stocks, while Livemint adds technical context on ADR trading and links the gain to the upcoming US Federal Reserve decision. Moneycontrol provides the strongest sector-context data, noting the Nifty IT Index is 37 percent below its record high and trading at two standard deviations below its five-year average. The balanced reading: AI-slowdown calls are a near-term sentiment lift for cash-flow-rich Indian IT outsourcers, but the sector's deep discount already reflects structural fears that AI will disrupt their business model. The Fed decision on September 16 and subsequent US corporate IT spending commentary will test whether this is a real rotation or a bear-market rally.

## Coverage

- ndtvprofit.com (neutral report) <https://www.ndtvprofit.com/markets/gap-up-for-indian-it-what-up-to-6-surge-in-cognizant-accenture-salesforce-means-for-d-street-12046233#publisher=newsstand>
  Leads with price surge and frames as potential rotation to software stocks, neutral on government
- livemint.com (neutral report) <https://www.livemint.com/market/stock-market-news/infosys-wipro-adrs-surge-up-to-6-what-it-means-for-indian-it-stocks-on-tuesday-11789404651598.html>
  Adds ADR mechanism detail and Fed decision context, neutral government stance
- moneycontrol.com (neutral report) <https://www.moneycontrol.com/news/business/markets/ai-restraint-debate-lifts-outlook-for-india-tech-services-stocks-14029763.html>
  Provides index-level valuation data, emphasises discount, neutral on government

Tags: Accenture, Cognizant, Federal Reserve, Infosys, Wipro
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