17th Jun 2026 05:33
(Alliance News) - HSBC Holdings PLC has entered into a multi-year partnership with Alphabet Inc to deploy artificial intelligence across the bank, Bloomberg reported Wednesday.
According to the Bloomberg report, HSBC will utilise Mountain View, California-based Alphabet's Google Cloud to roll out AI across its global operations.
HSBC expects projects related to the collaboration to generate more than USD100 million in extra revenue or savings.
Citing a statement from HSBC, Bloomberg reported that the partnership will support over 200 new AI use cases at the London-based bank during the next two years.
HSBC shares closed up 1.9% at 1,410.20 pence in London on Tuesday, while Alphabet class C shares ended 1.1% higher at USD371.10 in New York.
By Elijah Dale, Alliance News senior reporter Asia-Pacific
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