Reliance, Meta Set Up $97 Million Enterprise AI JV
The new venture, REIL, will focus on enterprise AI solutions using Meta’s LLaMA models and Reliance’s industry reach.
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[Image source: Chetan Jha/MITSMR India]
Reliance Industries Ltd (RIL) has announced that its wholly owned subsidiary, Reliance Intelligence Ltd, will form a joint venture with Facebook Overseas Inc., an arm of Meta Platforms, Inc., to set up Reliance Enterprise Intelligence Ltd. (REIL).
The partners will invest about ₹855 crore (around $97.3 million) in the venture, regulatory filings said, adding that Reliance Intelligence will hold 70% of REIL while Facebook Overseas will own 30%.
REIL, which was incorporated on 24 October, will focus on developing, marketing and distributing enterprise artificial‑intelligence (AI) services, leveraging Meta’s open‑source LLaMA model family and Reliance’s enterprise network in sectors such as energy, retail, telecommunications, media and manufacturing.
The transaction does not require governmental regulatory approvals and is not classified as a related‑party transaction, the filings said.
At its 48th annual general meeting in August, Reliance had previously announced expanded investments in AI and cloud infrastructure, including a partnership with Google Cloud to build AI‑ready data centres in Jamnagar, Gujarat.
