Others open their wallets for buybacks. Cognizant turned to credit.

Of course, the approach of Indian and India-based IT firms to increase share buybacks comes even as global tech giants are avoiding historic share buybacks. Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla, which spent money on share buybacks in 2024 and 2025, cut back on buybacks by investing billions of dollars in data centers and artificial intelligence.