Cognizant Technology Solutions Corp

Cognizant's FY2024 10-K reports full-year revenue of $19,736M across four segments: HS $5,932M, FS $5,753M, P&R $4,782M, CMT $3,269M. The 10-K markedly increases AI language: services now described as 'AI and other technology services and solutions' and 'Digital, AI-enhanced services continue to be an important part of our portfolio.' A new practice called 'Cognizant Moment' (digital experience) is introduced. Six integrated practices are described: Core Technologies and Insights, Enterprise Platform Services, Industry Solutions, Intuitive Operations and Automation, Software and Platform Engineering, and Cognizant Moment. However, there is STILL no quantification of AI revenue, AI bookings, AI pipeline, or any AI-specific financial metrics. The segments remain industry-based. The strategic language is significantly more AI-forward than prior years, but this is aspirational positioning, not financial disclosure. IT services companies commonly rebrand existing digital offerings as 'AI-enhanced' without meaningful AI-specific revenue. Maintaining 2.0% estimate, acknowledging this could be higher but cannot be verified from filing data alone.