It's a wrap: News this week (Oct 11-17)

There have been multiple developments this week on the tech front. From Foxconn’s investment to quarterly results, here is a list of the most important updates for a quick catch-up:

Foxconn’s investment in TN

iPhone manufacturer Foxconn is set to invest ₹15,000 crore in Tamil Nadu, the state government announced on Monday. Additionally, TN Industries Minister TRB Rajaa said that the Taiwanese firm will create 14,000 high-value jobs in the state. The timeline and other details are yet to be shared.

The state’s nodal agency for investment promotion and single window facilitation, Guidance Tamil Nadu, will establish a Foxconn Desk for quick regulatory approvals.  Foxconn will bring its next phase of value-added manufacturing, R&D integration and AI-led advanced tech operations to Tamil Nadu, he added. 

IT services giants declare quarterly results

This week saw four of the five IT services giants declaring their financial results.

Infosys reported a robust second quarter for FY26, buoyed by strong large-deal momentum and continued focus on AI-led transformation partnerships. The Bengaluru-headquartered firm posted a 13.2% year-on-year rise in consolidated net profit to ₹7,364 crore for the July–September quarter, compared with ₹6,506 crore a year earlier. Revenue rose 8.55% YoY to ₹44,490 crore, with an operating margin at 21%.

 HCL Technologies earned $100 million in revenue from its advanced AI services in the second quarter of FY26. The Mumbai-headquartered firm categorises AI engineering, Agentic AI, physical AI, and others under advanced AI solutions. Managing director and chief executive officer (CEO) C Vijayakumar, while responding to a media question, said that the advanced AI services account for about 3% of the overall business, and are expected to grow.

Wipro recorded stable performance supported by technology-led transformation deals and consistent operations across key markets. The company posted gross revenue of ₹227 billion, marking a 2.5% quarter-on-quarter rise and 1.8% growth year-on-year. Its IT services revenue stood at $2,604.3 million, up 0.7% sequentially and down 2.1% compared to the previous year. In constant currency terms, revenue rose by 0.3%, reflecting stability amid global market conditions.

Lastly, Tech Mahindra said that there has been a 5% sequential rise in consolidated net profit for the quarter ended September 30, 2025, driven by margin expansion and strong traction in artificial intelligence-led deal wins. The company posted a net profit of ₹1,194.5 crore, up from ₹1,140.6 crore in the previous quarter, while revenue rose 4.8% to ₹13,994.9 crore from ₹13,351.2 crore. 

Airtel-IBM Cloud partnership

Telecom operator Bharti Airtel, has partnered with IBM to offer the American technology firm’s cloud and AI infrastructure services through Airtel Cloud, as enterprises across regulated sectors ramp up their digital transformation and computing needs.

Announcing the partnership on Wednesday, the companies said Airtel Cloud customers will now be able to deploy IBM Power systems portfolio-as-a-service, including the latest IBM Power11 autonomous, AI-ready servers, designed for mission-critical workloads in sectors such as banking, healthcare, government, and others.

Google invests in Vizag for data center project

Visakhapatnam, or Vizag, is fast transforming into India’s next major technology and data centre hub, with large-scale investments from global and domestic players such as Google, Adani, and Sify Technologies signalling a new phase of AI-led digital infrastructure growth in Andhra Pradesh.

On Tuesday, Adani Enterprises Ltd, through its joint venture AdaniConneX, announced a partnership with Google to develop India’s largest artificial intelligence (AI) data centre campus in Visakhapatnam. The project will also include new green energy and subsea connectivity infrastructure, marking a key step in positioning India as a global AI and cloud hub.

According to Adani Enterprises, Google’s AI hub in Visakhapatnam represents an investment of about $15 billion (₹1.25 lakh crore) over five years, between 2026 and 2030. The gigawatt-scale campus will house advanced data centre operations, supported by a robust subsea cable network and clean energy facilities to power next-generation AI workloads.