Intel Corp has announced that it will invest Rs 1,894.5 crore in Jio Platforms for a 0.39 percent stake. This is the latest in a string of big-ticket investment in the digital unit of Reliance Industries (RIL).
The deal with Intel — the 12th such investment in 11 weeks —takes the total stake that Reliance sold in Jio Platforms to 25.09 percent. Mumbai-based RIL has now raised a combined Rs 1,17,588.45 crore from some of the world’s leading tech investors led by Facebook, which bought a 9.99 percent stake for Rs 43,574 crore on April 22.
Here is everything you need to know about Jio's latest investor Intel:
> Intel Corporation is an American multinational corporation and technology company headquartered in Santa Clara, California, in Silicon Valley.
> It was founded on July 18, 1968, by Robert Noyce and Gordon Moore (of Moore's law) – both semiconductor pioneers.
> The company's name is a combination of ‘int’ from integrated and ‘el’ from electronics.
> It is the world's largest and highest valued semiconductor chip manufacturer based on revenue, and is the inventor of the x86 series of microprocessors, the processors found in most personal computers (PCs).
> Intel is the leader in the semiconductor industry, shaping the data-centric future with computing and communications technology that is the foundation of global innovations.
> Bob Swan took over as the seventh CEO of the company on January 31, 2019.
> Intel has operated in India for more than two decades and today employs thousands of employees there with state-of-the-art design facilities in Bengaluru and Hyderabad.
> Intel Capital invests in innovative startups targeting artificial intelligence, autonomous vehicles, datacenter and cloud, 5G, next-generation compute and a wide range of other disruptive technologies.
> Since 1991, Intel Capital has invested $12.9 billion in more than 1,582 companies worldwide, and 692 portfolio companies have gone public or participated in a merger.
> The American semiconductor giant is the second strategic investor after Facebook Inc in Jio, which runs movie, news and music apps as well as the telecom enterprise Jio Infocomm.
> The deal with Intel — the 12th such investment in 11 weeks —takes the total stake that Reliance sold in Jio Platforms to 25.09 percent.Disclosure: RIL is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments.