News in Brief
Intel Capital to invest $253mn in Jio Platforms
Intel Capital is the 12th company to join the list of marquee investors who have recently invested in Jio Platforms, taking the total investment to $15.74 billion.
Electronic chipmaker Intel's investment arm, Intel Capital, will buy 0.39 per cent stake in the Reliance Industries' digital business unit, Jio Platforms, for $253 million. Intel Capital is the 12th company to join the list of marquee investors who have recently invested in Jio Platforms, taking the total investment to $15.74 billion.
Wendell Brooks, President, Intel Capital said, “Jio Platforms' focus on applying its impressive engineering capabilities to bring the power of low-cost digital services to India aligns with Intel's purpose of delivering breakthrough technology that enriches lives. We believe digital access and data can transform business and society for the better.”
Intel Capital has invested globally in technology companies across various areas like cloud computing, artificial intelligence and 5G.
Reliance Industries said that Jio Platforms is also making significant investments across its digital ecosystem for future growth, including areas like broadband connectivity, smart devices, cloud and edge computing, big data analytics, artificial intelligence, Internet of Things, augmented and mixed reality and blockchain.