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EU approves Reliance-Meta's ₹855cr AI joint venture
Business
The European Union just gave the green light to a ₹855 crore ($100 million) joint venture between Reliance and Meta, announced at RIL's Annual General Meet (AGM) last month.
Reliance will own 70%, Meta takes 30%, and together they'll roll out AI solutions using Meta's Llama models and Reliance's huge network—mainly for India.
JV will offer enterprise AI platform for Indian companies
This JV is set to offer an enterprise AI platform where companies can customize and deploy generative AI tools for sales, marketing, IT, customer service, and finance.
There'll also be ready-made industry-specific AI solutions, all designed to work on cloud or local servers—making advanced tech more affordable for Indian enterprises and SMBs.