Reliance Industries surges on partnering with NVIDIA to develop foundational large language model for AI in India
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Reliance Industries is currently trading at Rs. 2450.25, up by 18.75 points or 0.77% from its previous closing of Rs. 2431.50 on the BSE.
The scrip opened at Rs. 2436.40 and has touched a high and low of Rs. 2455.65 and Rs. 2423.40 respectively. So far 318533 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2,635.17 on 19-Jul-2023 and a 52 week low of Rs. 2,012.14 on 20-Mar-2023.
Last one week high and low of the scrip stood at Rs. 2455.65 and Rs. 2406.00 respectively. The current market cap of the company is Rs. 1647547.54 crore.
The promoters holding in the company stood at 50.39%, while Institutions and Non-Institutions held 38.86% and 10.76% respectively.
Reliance Industries and NVIDIA have entered into collaboration to develop India’s own foundation large language model trained on the nation’s diverse languages and tailored for generative AI applications to serve the world’s most populous nation.
The companies will work together to build AI infrastructure that is over an order of magnitude more powerful than the fastest supercomputer in India today. NVIDIA will provide access to the most advanced NVIDIA GH200 Grace Hopper Superchip and NVIDIA DGX Cloud, an AI supercomputing service in the cloud. GH200 marks a fundamental shift in computing architecture that provides exceptional performance and massive memory bandwidth.
The NVIDIA-powered AI infrastructure is the foundation of the new frontier into AI for Reliance Jio Infocomm, Reliance Industries’ telecom arm. The global AI revolution is transforming industries and daily life. To serve India’s vast potential in AI, Reliance will create AI applications and services for their 450 million Jio customers and provide energy-efficient AI infrastructure to scientists, developers and startups across India.
AI can help rural farmers interact via cell phones in their local language to get weather information and crop prices. It can help provide, at massive scale, expert diagnosis of medical symptoms and imaging scans where doctors may not be immediately available. AI can better predict cyclonic storms using decades of atmospheric data, enabling those at risk to evacuate and find shelter.
Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.
