NVIDIA's market capitalisation just took a 30% hit, dropping from $5.78 trillion to $4.01 trillion in about a month.
This has investors rethinking their obsession with AI companies, and now, attention is shifting back to more traditional tech services.
According to a senior government official, this change could actually work out well for Indian IT giants like Infosys and TCS.
Nifty IT rallies on investor rotation
With some of the hype around AI fading, Indian IT firms are showing real staying power: the Nifty IT index jumped 18% in October and another 13.5% through November 12.
As money moves from AI-focused investments back into established tech companies, there's a good chance foreign investors will pump more funds into India's IT sector, opening up fresh opportunities for growth.