Reliance invests ₹2 crore to set up AI joint venture with Meta’s Facebook unit

Reliance Industries has moved a step closer to launching its enterprise artificial intelligence (AI) venture with Meta.

The company's wholly owned subsidiary Reliance Intelligence on Saturday, October 25, announced an investment of ₹2 crore to incorporate Reliance Enterprise Intelligence Limited (REIL).

REIL will serve as the joint venture entity between Reliance Intelligence and Facebook Overseas, Inc., a wholly owned subsidiary of Meta. The new company will focus on developing, marketing, and distributing enterprise AI services, marking a concrete step toward implementing the collaboration announced earlier this year.

The company has informed the exchanges that Reliance Intelligence has subscribed to 20 lakh equity shares of ₹10 each, amounting to ₹2 crore, as part of REIL’s incorpor