Sterlite Technologies shares rise after $1.11bn AI data center deal
Business
Sterlite Technologies (STL) shares jumped nearly 5% on Monday after STL's subsidiary landed an agreement with an estimated potential value of about $1.11 billion with a major global tech player.
The multi-year deal, set for fiscal 2027 through 2029, will see STL supplying high-speed optical solutions to power next-generation AI data centers in the US a big step in STL's push into the booming AI infrastructure space.
Sterlite Technologies Neuralis fuels 175% rally
This win is thanks to STL's strong R&D game and its new Neuralis portfolio designed for heavy-duty AI clusters.
The stock has already soared over 175% in just three months, taking STL's market cap past ₹20,500 crore.
But heads up, the stock looks overbought right now, so a short-term dip wouldn't be surprising.