Reliance formally incorporates AI JV with Facebook, cos agree to jointly invest Rs 855 crore
Reliance Industries announced on Saturday that its wholly owned subsidiary, Reliance Intelligence Limited, has incorporated a new company, Reliance Enterprise Intelligence Limited (REIL), in a joint venture with Facebook’s Indian arm.
The Mukesh Ambani and Mark Zuckerberg-led companies have committed an initial combined investment of around Rs 855 crore in the unit, which will focus on developing, marketing, and distributing enterprise AI services.
