Hogan Lovells advised Meta in the formation of a strategic joint venture with Reliance Industries Limited (RIL) aimed at developing enterprise AI solutions built on Llama for Indian enterprises.
Under the JV agreement, Meta and RIL have jointly committed an initial investment of approximately INR 855 crore (~US$ 100 million), with Meta holding a 30% stake and Reliance 70%.
At the core of this partnership is Meta’s unwavering commitment to India and its shared mission with Reliance to democratize AI technology. The JV will aim to leverage Meta’s open-source Llama models to create AI solutions tailored for specific business needs in areas like sales, marketing, IT, customer service, finance, and more.
The collaboration with RIL, a leader in digital infrastructure, brings AI benefits closer to Indian enterprises. By seamlessly integrating Meta’s Llama models with RIL’s strong digital foundation, the JV will be able to scale high performance models at a fraction of the cost.
The Hogan Lovells deal time advising Meta was led by M&A partner Jane Ross with support from partners John Brockland and Nicola Lemay, senior associates Samantha Seiden, Whei Hsueh and Chasse Osborn, and associate Ryan Reshke.
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