Sterlite Technologies hits 52-week high on $1B deal, $100 million expansion
Business
Sterlite Technologies just hit a 52-week stock high after landing a massive $1 billion contract with a global tech giant.
This move has investors buzzing, especially as demand for AI and faster internet keeps growing.
The company's also planning to pump up to $100 million into its US factories to ramp up production for AI data centers and next-generation connectivity.
Sterlite announces US expansion, 400-500 jobs
Sterlite's US expansion is expected to create 400 to 500 new jobs, helping it meet rising demand from major American clients building out AI infrastructure.
Announced at the SelectUSA Investment Summit in Maryland, this step further strengthens Sterlite's role in the booming optical networking space.