Persistent Systems enters into a strategic collaboration with AWS

About the collaboration

Persistent Systems has entered into a multi-year strategic collaboration agreement with Amazon Web Services (AWS) to accelerate the pace of innovation and development of generative AI solutions for clients. Persistent is a long-standing AWS Partner and has a proven track record of early-scale generative AI adoption across multiple industry verticals leveraging services like Amazon CodeWhisperer and Amazon Bedrock. Amazon CodeWhisperer provides generative AI-powered code recommendations directly in multiple integrated development environments (IDEs) to help developers build applications quickly in more than 15 coding languages; Amazon Bedrock is a fully managed service that makes foundation models (FMs) from leading AI companies accessible via an API to build and scale generative AI applications.

This strategic collaboration with AWS will help Persistent to further increase the impact it delivers to its clients that are embracing generative AI. Through this teaming, Persistent will have access to additional resources from AWS to build proofs of concept to help clients identify tangible business outcomes from generative AI. One of the key benefits to combined clients will be continued early access to AWS’s generative AI services and investments that will help clients with their aspirations around growth, time-to-market, and better customer experience.

Company profile 

Persistent Systems is a global company specialising in software product and technology services. The company provides software engineering and strategy services to help companies implement and modernize their businesses. It has its own software and frameworks with pre-built integration and acceleration. It also has partnerships with providers such as Salesforce and AWS.

Stock price movement 

Today, the Persistent Systems stock opened at Rs 7,270.15 and has touched a high and low of Rs 7,414 and Rs 7,243.25, respectively. The BSE group ‘A’ stock of face value of Rs 10 has a 52-week high and low of Rs 7,550 and Rs 3,841, respectively. Last one week high and low of the scrip stood at Rs 7,544.85 and Rs 7,162, respectively. The current market cap of the company is Rs 55,732.16 crore.

The promoters holding in the company stood at 31.06%, while Institutions and Non-Institutions held 50.01% and 17.93%, respectively.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.