Intel to take a position $253.5 million in India’s Reliance Jio Platforms


Intel stated on Friday it can make investments $253.5 million in Jio Platforms, becoming a member of a roster of high-profile traders together with Fb and Silver Lake which have backed India’s high telecom operator on the peak of a worldwide pandemic.

The chipmaker’s funding arm stated it’s buying a 0.39% stake in Jio Platforms, giving the Indian agency a valuation of $65 billion. Intel is the 12th investor to purchase a stake in Jio Platforms, which has raised almost $15.5 billion by promoting 25% stake since April this 12 months.

“Jio Platforms’ give attention to making use of its spectacular engineering capabilities to carry the ability of low-cost digital providers to India aligns with Intel’s goal of delivering breakthrough know-how that enriches lives. We consider digital entry and knowledge can remodel enterprise and society for the higher. By this funding, we’re excited to assist gas digital transformation in India, the place Intel maintains an necessary presence,” stated Wendell Brooks, Intel Capital President, in a press release.

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