Reliance Intelligence will hold the majority stake of 70%, with Facebook holding the remaining 30% (Photo source: Freepik) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Reliance Industries Ltd., on Saturday announced the formal incorporation of a new joint venture with Meta Platforms, Inc.'s subsidiary Facebook Overseas, Inc. This move is to focus on developing, marketing, and distributing enterprise AI services, according to the filing.

The new entity, named Reliance Enterprise Intelligence Ltd., or REIL, was incorporated on Oct. 24, as per a regulatory filing by Reliance Industries. REIL will operate as a joint venture between Reliance Intelligence Ltd., a wholly-owned subsidiary of RIL, and Facebook Overseas, Inc. Facebook Overseas is a wholly-owned subsidiary of Met

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