Facebook's new India bet: 30% in Reliance AI venture; Rs 855cr investment
Meta's Facebook Overseas acquires 30% stake in Reliance Enterprise Intelligence Limited (REIL), Mukesh Ambani's new AI venture, with joint investment of Rs 855 crore. The partnership will deploy Meta's Llama AI models through Reliance's enterprise network to offer platform-as-a-service and industry-specific AI solutions across sales, marketing, and customer service. This collaboration extends the 2020 strategic relationship when Facebook invested $5.7 billion in Jio Platforms, strengthening Meta's presence in India's growing digital economy and enterprise AI market.
Meta's Facebook Overseas acquires 30% stake in Reliance Enterprise Intelligence Limited (REIL), Mukesh Ambani's new AI venture, with joint investment of Rs 855 crore. The partnership will deploy Meta's Llama AI models through Reliance's enterprise network to offer platform-as-a-service and industry-specific AI solutions across sales, marketing, and customer service. This collaboration extends the 2020 strategic relationship when Facebook invested $5.7 billion in Jio Platforms, strengthening Meta's presence in India's growing digital economy and enterprise AI market.
