All articles tagged with #jio platforms
India's Jio Platforms and NSE are lining up blockbuster IPOs, signaling a maturing market that mirrors the country's digital revolution: Jio fuels a data-driven consumer ecosystem while NSE underpins a retail-investing boom, but investor enthusiasm hinges on valuations amid volatile markets and currency weakness.
Jio Platforms filed draft papers for an IPO of up to 270 million shares, with proceeds to reduce debt at its subsidiary Reliance Jio Infocomm. Backed by Reliance Industries (~66%), Google (~7.7%), and Meta (~10%), the listing would rank among India's largest, amid mixed market sentiment and other major IPOs like NSE’s filing.
Reliance Industries's Jio Platforms has partnered with Nvidia to develop a large language model trained on India's diverse languages. The collaboration aims to build an AI infrastructure that is significantly more powerful than India's fastest supercomputer, providing accelerated computing access to researchers, developers, startups, and AI experts in India. Nvidia will equip Jio with AI supercomputer solutions, while Jio will manage the AI cloud infrastructure. India, despite its population, has yet to make a significant impact in the global AI arena, and this partnership seeks to change that. Reliance Industries, known for its oil business, has been diversifying into various sectors, including telecom and video streaming, and Jio Platforms is positioning itself as a technology distribution partner for global giants.
Reliance Industries, led by chairman Mukesh Ambani, has invested $150 billion in the past decade, making it the largest investment by any Indian corporation. Ambani outlined ambitious plans for Jio Platforms, including leading efforts in developing India-specific Artificial Intelligence models and solutions, creating AI-ready computing capacity, and harnessing AI for innovation and growth. Additionally, Ambani announced the appointment of his children, Isha, Akash, and Anant Ambani, as directors of Reliance Industries, while his wife, Nita Ambani, resigned from the board to focus on strengthening Reliance Foundation. Ambani also highlighted Reliance's achievements, including its contribution to India's merchandise exports and the upcoming launch of JioAirFiber on September 19.
Reliance's digital arm, Jio Platforms, has launched the Jio Bharat, a 4G-enabled mobile handset priced at $12.2, targeting the 250 million Indian consumers who have been unable to afford the transition to 4G networks. The Jio Bharat offers mobile payment capabilities, access to Jio's streaming services, and comes with an affordable tariff plan costing $1.5 per month for 14GB of data and unlimited voice calls. Reliance plans to manufacture the Jio Bharat and partner with other phonemakers to adopt the Jio Bharat Platform. The company aims to convert users still using legacy 2G networks to its 4G services.