Mumbai, Oct 25: Reliance Industries has formed a joint venture with US tech giant Meta to market and distribute enterprise AI in India.

Reliance Enterprise Intelligence Limited (REIL) will be formed with Facebook Overseas, Inc., with an initial combined investment of around Rs 855 crore.

The partnership will provide an enterprise AI platform-as-a-service, enabling organizations to customise and deploy generative models and a suite of pre-configured solutions for various industries.

Reliance’s AI arm will invest Rs 2 crore towards the initial subscription of 20 million equity shares of Rs 10 each.

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