HCL Technologies has completed an investment of ₹1,427.25 crore in Axonwise Private Limited, operating as Sarvam AI, to acquire a 10.46% stake. The transaction was finalized on June 25, 2026, through the subscription of 41,421 Series B2 Compulsory Convertible Preference Shares (CCPS), which were allotted to the company on the same day. These Series B2 CCPS are set to be converted into equity shares at a later date, marking a significant move in the artificial intelligence sector.

The investment follows a previous intimation dated June 15, 2026, where HCL Technologies had disclosed its intent to invest in the India-incorporated entity. The completion of this acquisition underscores the company's strategic focus on expanding its capabilities in the AI domain through targeted investments.

Investment Details

The transaction involved the subscription to Series B2 CCPS, a financial instrument that typically converts into equity shares after a specified period or upon meeting certain conditions. The table below outlines the key details of the investment:

The event was recorded on June 25, 2026, at 6 p.m. IST. The completion of this investment is expected to strengthen HCL Technologies' positioning in the rapidly evolving AI landscape, leveraging Sarvam AI's technological expertise.

HCL Technologies has expanded its collaboration with Google Cloud and ServiceNow to deliver AI agents for enterprise adoption on the Gemini Enterprise platform. This partnership aims to enable organizations to deploy and scale AI in real business environments by combining advanced ServiceNow AI capabilities with enterprise workflow orchestration. The launch coincides with HCLTech's sponsorship of the Sydney Google Cloud Summit 2026.

Enterprise AI Solutions on Gemini Enterprise

The collaboration introduces enterprise AI solutions on Gemini Enterprise that combine Gemini's advanced AI capabilities with ServiceNow's workflow platform. This initiative is anchored in ServiceNow's Blueprint for Agentic Business, a framework for structured, outcome-driven AI adoption. A key component of this launch is a next-generation Factory Shop Floor Assistant, which delivers real-time operational intelligence to manufacturing environments to enable faster decision-making and improved efficiency.

Initial solutions span two high-impact domains. In Field Services, Gemini Live, integrated with ServiceNow Field Service Management, delivers real-time audio and visual intelligence to field technicians for faster issue resolution. In Customer Experience, solutions ensure customer intent is preserved across channels. HCLTech is also leveraging ServiceNow's AI Control Tower to enhance visibility and governance of AI agents within Gemini Enterprise. Additionally, an ITOps ServiceNow Agent is available on Google Cloud Marketplace for Gemini Enterprise to support incident management and remediation in enterprise IT environments.

The following table outlines the key domains and solutions introduced as part of this expanded collaboration:

Partner Perspectives

"Bringing agentic AI to the enterprise requires deep integration into the systems that businesses rely on every day," said Satish Thomas, Vice President of Applied AI and Platform Ecosystem at Google Cloud. "Our partnership with HCLTech and ServiceNow combines the foundational power of Gemini Enterprise with industry-leading workflow and operational expertise, giving customers the tools they need to safely scale AI and accelerate innovation across their entire organization."

"The future of enterprise AI lies in orchestrating intelligent agents across the business as a connected system of action," said Michael Park, Senior Vice President, Global Partnerships and Channels at ServiceNow. "By bringing together ServiceNow's AI-native platform, HCLTech's implementation expertise, and Google Cloud's Gemini Enterprise capabilities, we are helping organizations build the foundation for an agentic enterprise."

Key Focus Areas

The expanded collaboration focuses on enabling enterprises to transition from experimentation to scaled deployment of agentic AI. The solutions are designed to deliver measurable impact across industries. HCLTech will showcase these capabilities at the Sydney Google Cloud Summit 2026 and the Sydney ServiceNow World Forum.