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3h ago

Reliance Targets H1 2026 Jio IPO, Launches AI Unit With Google and Meta

Investors signaled caution, sending RIL shares down about 2% after the AGM announcements.

RIL AGM
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RIL AGM 2025 today: Stock investors to track 5 things at 2 PM
'4x the Tesla gigafactory': In his debut RIL AGM speech, Anant Ambani teases Dhirubhai Ambani Giga Energy Complex at Jamnagar

Overview

  • Chairman Mukesh Ambani said Jio is preparing to file for an IPO with a planned listing in the first half of 2026, subject to approvals, as the telecom unit surpasses 500 million subscribers.
  • Reliance unveiled a new subsidiary, Reliance Intelligence, to build AI infrastructure and services, with work underway on gigawatt-scale, green-powered data centres in Jamnagar.
  • Google will develop a dedicated Jamnagar Cloud region for Reliance to support AI adoption across the group’s businesses and broader developer access in India.
  • Reliance announced an AI joint venture with Meta to deliver India-focused, enterprise-ready solutions using open-source models such as Llama.
  • Jio introduced consumer AI offerings including JioPC, a cloud-powered virtual computer, and JioFrames wearable glasses, outlined upgrades to Jio AI Cloud, and flagged plans to take its technologies international, as Ambani reiterated a goal to more than double EBITDA by 2027.