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AI News from ET - Reliance formally incorporates AI JV with Facebook, cos agree to jointly invest Rs 855 crore

Vishwadeep Khatri
in AI News & Two Lenses

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Reliance Industries and Facebook's Indian arm have formed a joint venture, Reliance Enterprise Intelligence Limited (REIL), to develop and distribute enterprise AI services. The new entity, with an initial investment of Rs 855 crore, will see Reliance Intelligence hold a 70% stake and Facebook Overseas Inc. hold 30%.

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