7/3, 8:40 AM (Source: TeleTrader)
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Intel to invest $254M in Reliance's Jio Platforms

Intel Corporation said on Friday that it will invest $254 million in Indian digital services company Jio Platforms Ltd and acquire a 0.39% in the Reliance-owned firm.

"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," Intel Capital President Wendell Brooks said in a statement.

Earlier, Facebook announced it will invest $5.7 billion in a 9.9% stake in Jio Platforms, while reports claimed Microsoft will buy a 2.5% stake in the company for $2 billion.

Breaking the News / NP