Reliance Industries Ltd. (RIL) is preparing for the highly anticipated IPO of its telecommunications subsidiary, Jio Platforms Ltd., with plans for a listing by 2025. The valuation of Jio is currently estimated at over $100 billion, with analysts predicting a potential IPO valuation of $112 billion. The IPO will allow existing investors to exit, while RIL's chairman Mukesh Ambani aims to list Jio as a subsidiary structure rather than demerging it. In 2020, Jio secured investments from several strategic partners, including Meta and Google, and recently announced a partnership with Nvidia to develop AI data centers in India.
Nvidia, one of the top-performing stocks of 2024, has seen impressive market returns due to the growing demand for AI technology in various industries. However, concerns about the company's valuation and a potential AI bubble have emerged. On top of that, Nvidia's largest customer, Super Micro Computer Inc., is facing possible delisting and a DOJ investigation, which could impact the chipmaker's future earnings. With NVIDIA's Q4 2024 earnings report set to be released on November 20, the stock could face further challenges in maintaining its impressive performance.
During the recent Nvidia AI Summit 2024 in Mumbai, Reliance's Mukesh Ambani and Nvidia's Jensen Huang had a conversation on AI and India's role in it. In the chat, Ambani praised Mark Zuckerberg for making Meta's Llama AI model open source. He also added that this move "will be written in history" and give everyone an opportunity to participate in the AI revolution.
At the Nvidia Summit 2024 in Mumbai, Nvidia CEO Jensen Huang met with Reliance chairman Mukesh Ambani to discuss India's potential to become a center of AI. With Reliance's strong resources and investments in AI infrastructure and Nvidia's interest in utilizing the country's fast-growing digital economy, India has become a key player in global AI ambitions. This partnership could lead to significant rewards for both companies, as India's emergence as a top player in the AI race opens new opportunities and access to a vast user base and dataset for training AI models.
NVIDIA has reaffirmed its partnership with Reliance Industries to develop an advanced AI infrastructure in India. At the company's AI summit, CEO Jensen Huang emphasized India's potential in AI and its collaboration with Reliance, while company chairman Mukesh Ambani highlighted the crucial role of Jio's infrastructure in making India a global AI hub. The partnership would also train developers in India and develop a large language model tailored for Indian needs. This move comes as India aims to become a world leader in semiconductor manufacturing and AI through public-private partnerships.
In a groundbreaking partnership between two major companies, Reliance Industries and Nvidia are set to collaborate on developing artificial intelligence infrastructure in India. This comes as a result of the growing demand for AI technology in the country, with RIL Chairman Mukesh Ambani emphasizing on India's large population of computer engineers. With the backing of Prime Minister Narendra Modi and Nvidia's advanced computing system, the country is poised to become a major player in the global AI market.
During a conversation with Nvidia CEO Jensen Huang, Reliance Industries Limited (RIL) chairman Mukesh Ambani explained the meaning behind the chip company's name. He revealed that in Hindi, Nvidia's name translates to "knowledge", and that their partnership will drive the knowledge and intelligence revolution in India. Meanwhile, Huang shared an update on their Blackwell chips, crucial for their upcoming GPU architecture, which will be available for shipping in the fourth quarter.
Bollywood star Akshay Kumar met with Jensen Huang, the CEO of NVIDIA, during his visit to India for the AI Summit in Mumbai. The two had an unexpected conversation, ranging from martial arts to technology. Akshay took to social media to share a photo with the CEO, where both of them can be seen twinning in black outfits. Fans couldn't stop showering praise on the Khiladi Kumar, calling him the 'Best Actor in the World'. Meanwhile, Akshay has a busy year ahead with the release of 'Singham Again' and 'Housefull 5' in the pipeline.
NVIDIA, the world’s second most valuable company, is hosting its first-ever AI summit in India today. The summit will cover topics such as building AI infrastructure, utilizing foundational models for Indian languages, and upskilling developers. CEO Jensen Huang will be joined by Reliance Industries’ Mukesh Ambani in a discussion about India’s potential in the AI industry. Zoho Corporation has already announced its plans to invest in custom language models and utilize NVIDIA's AI Enterprise software.
The financial markets in both Asia and the United States were met with a massive sell-off this week, triggered by fears of a potential US recession and escalating antitrust investigations. With the dominant position of Nvidia's AI processors being the key focus of the probes, the chip giant saw its stock price plummet by 9.5%, losing a staggering $279 billion in market capitalization. This downward trend has also affected other major US tech companies, highlighting concerns about the sustainability of the AI-driven stock market rally. With the upcoming employment figures and continued economic uncertainty, investors are bracing for further market volatility.