New Delhi, Aug. 29 -- Reliance Industries Chairman Mukesh Ambani announced an AI-focused joint venture with Meta during the company's Annual General Meeting on Friday. The Reliance-Meta JV will see an initial investment of Rs.855 crore in a 70:30 ratio for Reliance and Meta respectively.

"Today, I am pleased to unveil a new, India-focused AI joint venture with our close partner Meta. Together, we want to pair the power of open-source AI with Reliance's deep domain knowledge across industries. That is why we are forming a dedicated joint venture with Meta to combine open models and tools with our execution in energy, retail, telecom, media and manufacturing, and to deliver sovereign, enterprise-ready AI for India," Ambani said at the Reli...