Intel: Investing $253.5 million in India’s Reliance Jio Platforms
- Intel said on Friday it will invest $253.5 million in Jio Platforms, joining a roster of high-profile investors
- The American chipmaker’s investment arm said it is acquiring a 0.39% stake in Jio Platforms
- Intel Capital is the 12th investor to buy a stake in Jio Platforms
- The new deal further illustrates the opportunities foreign investors see in Jio, a four-year-old subsidiary of Reliance Industries
- Analysts at Bernstein said last month that they expect Jio Platforms to reach 500 million customers by 2023
- Jio Platforms also operates a bevy of digital apps and services, including music streaming service JioSaavn
