IT stocks rebound as Anthropic CEO flags AI spending risks

Indian IT stocks rebounded on June 22, ending a two-day decline after comments from Anthropic CEO Dario Amodei highlighted the need for AI companies to generate massive revenues to justify rising infrastructure investments. The IT index, which tumbled 3.7% on Friday after Accenture's weak demand forecast, rose 1.2%. Coforge, Tech Mahindra and OFSS led the gains.