According to ACM website, The Association for Computing Machinery (ACM) has signed an agreement with Infosys Technologies Limited to create a new annual award that recognizes young scientists and system developers whose innovations are having a dramatic impact on the computing field.
This award is named as “ACM-Infosys Foundation Award “. Award prize will be of $150,000. The first recipient will be announced as part of the ACM Awards program in early 2008.
A selection committee to administer the award will be formed and led by Juris Hartmanis, the Walter R. Read Professor of Engineering at Cornell University. He is a co-recipient of the 1993 ACM A.M. Turing Award for his contributions in establishing the foundations for computational complexity theory.
Source: ACM website