eNews
Meta invests Rs 256.6 crore for 30 per cent stake in REIL
Ambani pledges Rs 10 lakh crore for AI over seven years
MUMBAI: Six months after incorporating its artificial intelligence arm, Reliance Enterprise Intelligence Limited (REIL), Reliance Industries Ltd has infused a cumulative Rs 853.2 crore into the venture, tightening its embrace of enterprise AI.
Of the total, Reliance Intelligence Ltd has invested Rs 596.6 crore for a 70 per cent stake. The remaining Rs 256.6 crore came from Facebook Overseas, a unit of Meta, which holds 30 per cent. With the capital in place, REIL formally becomes a subsidiary of RIL.
The investment mirrors the Rs 855 crore commitment the two groups flagged in August 2025, when they unveiled the joint venture to build and scale enterprise AI solutions across India and select overseas markets.
The plan is straightforward but ambitious. REIL will tap Meta’s open-source Llama large language models to develop agentic enterprise AI tools. RIL, for its part, will provide digital infrastructure and access to its sprawling enterprise network, turning the conglomerate into a live testing ground for deployment at scale.
“Partnering with Meta brings our vision of providing AI to every Indian and enterprise to life,” said Reliance Industries chairman Mukesh Ambani, at the time of the announcement. By pairing Llama models with Reliance’s cross-industry footprint, he argued, the venture can iterate quickly and refine products in real-world conditions.
The move deepens a partnership forged in 2020, when Meta invested $5.7 billion for a 10 per cent stake in Jio Platforms, becoming its largest minority shareholder. The AI venture adds another strategic layer to that alliance.
The funding announcement follows the recently concluded India AI Impact Summit, which drew more than 500 global AI leaders, over 20 heads of state and upwards of 100 chief executives and founders. The mood was bullish, with billions of dollars discussed for domestic AI and data-centre infrastructure.
At the summit, Ambani pledged to invest Rs 10 lakh crore in AI over seven years starting 2026, calling it “patient, disciplined, nation-building capital” aimed at durable economic value rather than speculative gains.
The broader policy winds are favourable. In the Union Budget 2026-27, finance minister Nirmala Sitharaman earmarked Rs 1,000 Cr for the IndiaAI Mission, alongside measures to strengthen data-centre capacity.
The prize is large. The global AI market is projected to surpass $4 trillion by 2033. India’s own AI economy could reach $126 billion by 2030 and add as much as $1.7 trillion to GDP by 2035, according to the Inc42 Bharat AI Startups Report 2026.
eNews
Piyush Thakur steps down as Inshorts’ chief revenue officer
Former vice president and cro says exit marks a new chapter after close to a decade of building revenue and partnerships at Inshorts Group.
NOIDA: Piyush Thakur has stepped away from Inshorts Group after nearly 10 years with the company, marking the end of a long tenure that culminated in his role as chief revenue officer.
In a farewell note, Thakur said he was “turning a new page” after almost a decade at Inshorts, calling it one of the hardest professional decisions he has made. He added that his exit was not driven by uncertainty about the future, but by reflection on a long association with the company.
Thakur joined Inshorts in October 2016 as vice president and spent around seven years in the role before being elevated to chief revenue officer in April 2024, a position he held until April 2026.
He said his tenure was defined by “thousands of mornings, late nights, product debates and breakthrough moments”, as the company evolved into a large-scale digital news platform used by millions.
In his note, Thakur emphasised that Inshorts’ growth was a collective effort across teams, adding that engineers, designers, sales teams and customer support staff all contributed to building the platform. He said the company’s success was not the result of individuals but of “everyone who stayed, passed through, and left their mark”.
Before Inshorts, Thakur worked across several digital media and business development roles. At ESPN, he served as senior regional manager from October 2015 to October 2016, focusing on growth initiatives, strategic opportunities and video distribution.
At Times Internet, he worked for nearly three years, including as head of business development from April 2015 to September 2015 and chief manager from January 2013 to March 2015. His responsibilities included monetisation of mobile platforms, managing media and developer partnerships, and driving revenue across digital properties such as The Times of India and The Economic Times.
Earlier, he worked at Brandmovers as head of business development from June 2012 to June 2013, handling digital, mobile and social media marketing solutions, client development and strategic consulting. During this period, he also worked on advertising revenue, brand strategy and CRM-based solutions.
At Inshorts, Thakur’s role focused on revenue strategy, mobile and media partnerships, and growth initiatives across platforms. His profile highlights experience in mobile product management, digital business models, partner ecosystems and revenue expansion in high-growth environments.
