$25 Billion DSP Mutual Fund Stays Bullish on IT Stocks Amid AI Concerns

• DSP Mutual Fund, managing $25 billion, maintains its investment in the IT sector despite global tech stock pressure from AI developments.
• Vinit Sambre, Head of Equities, advises investors to assess real earnings impact before reacting to market panic over AI.
• The fund is "either equal weight or overweight" in the IT sector, believing AI could increase overall work volumes by modernizing applications.
• Concerns about Indian IT services stocks grew after a sharp fall in US software shares, fueled by fears of AI automating tasks.
• Experts like Moshe Katri suggest Indian IT services have a significant role in AI adoption, especially in integration and data preparation, though projects may take time to materialize.