Article Body
Reliance Industries shares rose more than 2% in early trading on June 10 after global technology giant Meta Platforms announced a major expansion of its strategic partnership with Reliance Industries through an agreement to develop an AI-enabled data center in India.
At around 10:00 AM IST, Reliance Industries shares were trading higher after touching an intraday high of ₹1,300.50, compared with the previous close of ₹1,269.20. The stock opened at ₹1,275.00 and witnessed strong buying interest, with trading volumes crossing 38.95 lakh shares. The stock's 52-week range stands between ₹1,257.50 and ₹1,611.80.
The partnership marks a significant step in India's rapidly expanding artificial intelligence and digital infrastructure ecosystem. Under the agreement, Reliance will build a dedicated AI-enabled data center in Jamnagar, Gujarat, with an initial capacity of 168 MW. Meta will lease the facility and retain options for future capacity expansion as its AI infrastructure requirements grow.
Meta said the investment highlights its long-term commitment to India, one of its largest and fastest-growing markets worldwide. The company plans to use the facility to support its growing artificial intelligence capabilities and infrastructure needs as it advances its vision of delivering personal superintelligence technologies to users across the globe.
Meta Chief Executive Officer Mark Zuckerberg stated that the company is proud to partner with Reliance in building its first AI-enabled data center in India. He noted that the facility would help Meta scale its global AI infrastructure while deepening its investment in India's economy.
The upcoming data center will be powered entirely by renewable energy and will utilize desalinated seawater for cooling operations, reflecting a strong emphasis on sustainability. Meta will bear the full cost of the energy and water required to operate the facility.
Jamnagar is increasingly emerging as a key destination for large-scale digital infrastructure projects. Reliance is already developing one of the world's largest data center campuses in the region, leveraging the area's significant energy resources required to support advanced AI workloads. The first phase will deliver 168 MW of capacity, with infrastructure designed to support future expansion.
The project is also expected to benefit from Meta's global connectivity initiatives, including Project Waterworth, the world's longest subsea cable system. The enhanced connectivity infrastructure is expected to improve digital services and network performance across the region.
The latest agreement further strengthens the long-standing relationship between Meta and Reliance. In 2020, Meta invested $5.7 billion in Jio Platforms, helping accelerate digital connectivity and supporting millions of small businesses across India. Since then, the two companies have expanded their collaboration through various initiatives focused on digital commerce and open-source AI technologies.
Reliance Chairman Mukesh D. Ambani described the partnership as a transformative moment for India's digital infrastructure landscape. He said that building India's first built-to-suit AI data center for a global technology leader of Meta's scale demonstrates the country's readiness to play a leading role in the global AI revolution.
Comments