New Delhi: Indian conglomerate Reliance Industries Limited on Friday announced a joint venture with social media major Meta with an initial investment of around Rs 855 crore or USD 100 million to build and scale artificial intelligence technology solutions for business organisations.
RIL also announced a partnership with Google for AI for setting up of AI-ready data centres that will use computing power from Google, while energy support will come from RIL and connectivity will be provided by Reliance Jio.
Talking about the partnership with Meta, RIL Chairman and Managing Director Mukesh Ambani said that the joint venture pairs the power of open-source AI with Reliance's deep domain knowledge across industries.
"Partnering with Meta brings our vision of providing AI to every Indian and enterprise to life - by combining Meta's most widely adopted open-source Llama models with our deep expertise across multiple industries. We will democratise enterprise-grade AI for every India organisation," he said.
The JV will leverage Meta's open-source Llama model to offer enterprises AI platform-as-a-service.
Under the JV agreement, RIL and Meta have jointly committed to an initial investment of around Rs 855 crore (about USD 100 million) to capitalise the JV in ratio of 70 per cent and 30 per cent respectively, RIL said in a statement.
"Meta and Reliance are going to deliver our open-source AI models to Indian businesses to help them fuel their work. With Llama, we have seen how AI can amplify human potential, boosting productivity, inspiring creativity, and accelerating innovation. And now, with Reliance's reach and scale, we can bring this to every corner of India," Meta Founder and CEO Mark Zuckerberg said.
(Except for the headline, this article has not been edited by FPJ's editorial team and is auto-generated from an agency feed.)
