Mukesh Ambani-led Reliance Intelligence JV with Meta sees Rs 855 crore initial investment
Reliance Industries and Facebook have joined forces to create a new AI subsidiary, REIL, with an initial investment of Rs 855 crore. Reliance will hold a 70% stake while Facebook will hold 30%. The partnership aims to offer AI solutions for India’s sovereign needs and small businesses, with a vision of “AI Everywhere for Everyone”. No regulatory approvals are needed for the incorporation of REIL.