Hexaware Technologies eyes $300B AI TAM, over 50% AI revenue
Hexaware Technologies grabbed attention after its AI Day in Chennai, where CEO R Srikrishna shared that over 50% of the company's revenue and work are already AI-infused.
The company is eyeing over $300 billion in net new AI TAM opportunities and plans the replacement of software as a service (SaaS) workflows with AI-native, client-owned solutions.
Hexaware stock down amid data problems
Even with big ambitions, Hexaware admits it's facing challenges: roughly 60% of the failed AI POCs are due to data problems.
Hexaware identified six net new TAM opportunities, including opportunities around data, governance and cybersecurity.
Meanwhile, the stock has taken a hit (down 29.75% this year), and brokerages can't agree: Jefferies is cautious with an underperform rating; HSBC says hold, expecting some bumps ahead; CLSA is optimistic thanks to Hexaware's steady growth and focus on AI under Srikrishna.