Mukesh Ambani, the billionaire head of one of India’s largest business empires Reliance Industries, announced that his retail-to-technology conglomerate would invest as much as $110Bn to develop AI infrastructure. The announcement came at the much anticipated India AI Impact Summit in New Delhi, amid a global rush that has seen several billion dollars being announced to develop AI infra globally, with several of those coming in to India.
The investment would span across 7 years and would be done jointly by Reliance and its telecom subsidiary Jio.
This follows a slew of similar investment announcements from Global AI and tech giants, including OpenAI, Google, Anthropic and others at the India AI Impact Summit. The summit has seen some of the top AI voices, global leaders such as France’s Emmanuel Macron among others, descend to New Delhi and commit massive investments into India’s still nascent but fast-paced AI landscape.
India is expecting commitments exceeding nearly $200Bn over the next two years to develop, what could well be, one of the world’s largest and fastest AI infrastructure. These commitments include Adani’s recent $100Bn announcement, along with OpenAI’s partnership with Indian conglomerate Tata Group, among several others.
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