The significant fall in Mukesh Ambani’s wealth has a potential to impact his business but it is expected that he will make a strong comeback soon. Scroll down to read more.
Mukesh Ambani news: In a shocking industry-impacting move, Mukesh Ambani has lost more than Rs 33,000 crore in wealth in a single day. Due to the recent decline in the stock market, the total wealth of Reliance Industries Chairman came down to $109 billion. Due to uncertainty among investors and weakness in international markets, Mukesh Ambani’s wealth has seen a massive drop of $3.95 billion (about Rs 33 thousand crores) in a single day, as per a report by Bloomberg Index.
Why Mukesh Ambani lost $3.95 billion in 1 day?
The huge fall in the total wealth of the Reliance Chairman has been recorded due to the sharp decrease in the shares of Reliance Industries, one of India’s largest companies. As a result of the downfall, a sense of panic has spread in the Indian stock market.
The significant fall in Mukesh Ambani’s wealth has a potential to impact his business but it is expected that he will make a strong comeback soon. However, if the decline in the share prices continue, it can also affect the company’s long-term growth plans
Nvidia to supply AI chips to Mukesh Ambani’s Reliance
As per a report by news agency PTI, Nvidia Corp will supply artificial intelligence processors to Mukesh Ambani’s Reliance Industries Ltd’s 1 gigawatt under-construction data centre in Gujarat. It will also team up with tech giants Infosys, TCS, Tech Mahindra and Wipro to deepen partnerships in growing Indian market, its CEO Jensen Huang said on Thursday.
Nvidia will supply its Blackwell AI processor for the Reliance data centre while its Hopper AI chips will be supplied to large-scale data centres of firms like Yotta Data Services and Tata Communications.
Nvidia ties up with Infosys, Reliance, TCS, and Wipro
Also, Infosys, TCS, and Wipro will help clients deploy AI with custom-built solutions that use the US giant’s enterprise software platform. Tech Mahindra will use its new Hindi-language AI model to develop a custom AI model called Indus 2.0.
Huang and Reliance boss Mukesh Ambani shared the stage at Nvidia’s AI summit here as the two announced a partnership to build out artificial intelligence infrastructure and spur the technology’s adoption in India.
(With inputs from agencies)