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The world’s largest AI conference just wrapped up in New Delhi with over 300,000 attendees, and it delivered on three fronts: major US-India partnerships, indigenous AI product launches, and a clear signal about where tech jobs are heading.

Prime Minister Modi, UN Secretary-General António Guterres, and CEOs from OpenAI, Anthropic, Google, and Microsoft all showed up. But beyond the photo ops, concrete business deals were signed and actual products were unveiled.

The Job Market Just Flipped

Last week, Anthropic released AI that drafts legal contracts, analyzes balance sheets, and writes production code. Cost? ₹16,000/month. That’s what companies paid ₹50,000/month employees to do.

What this means if you’re graduating in 2026:

Campus placements are already down 30-40% at top colleges. Companies aren’t hiring fewer people because they’re struggling—they’re hiring fewer because AI replaced the work.

But here’s what most students miss: AI didn’t eliminate jobs. It eliminated tasks. The companies still need people—just different skills.

Today Was Brutal for Indian IT Stocks

February 4, 2026, 10:30 AM: Nifty IT was down 5.9%.

By noon: Down 6.3%.

The damage:

• TCS: Down 6.5% (₹3,014 from ₹3,225)
• Infosys: Down 8.2% - steepest fall in 2.5 years
• Wipro: Down 4-5%
• HCL Tech: Down 5.1%
• Persistent Systems: Down 7.5%

Total market cap wiped out: ₹2 lakh crore. In one day.

This is the worst single-day crash for Nifty IT since March 2020 (COVID crash).