The technology venture of billionaire Mukesh Ambani secured 18.95 billion rupees ($253 million) from Intel Capital, adding to a slew of investments since April that have reached more than $15 billion. <br />Ambani’s conglomerate Reliance Industries Ltd. said in a statement that the investment arm of computer chip giant Intel Corp. agreed to buy a 0.39% stake in Jio Platforms Ltd., giving the business an equity value of $65 billion. <br />Intel Capital joins global names including Facebook Inc., KKR & Co. and Silver Lake Partners in backing Ambani’s bid to transform Reliance into a digital services giant and reduce its dependence on revenue from oil refining and petrochemicals. <br />Jio is expected to use its roughly 400 million wireless phone subscribers as the cornerstone of an e-commerce and digital services business. <br />#MukeshAmbani #JioIntelBanking #Reliance
