Qualcomm, the US-based chipmaker company recently has announced that it will acquire a 0.15% stake in Jio through an investment of $97 million (₹730 crores). The investment will be beneficial for both companies in testing 5G in India. Mukesh Ambani said, “Qualcomm offers insights that will help us deliver our 5G vision. Qualcomm has been a valued partner for several years and we have a shared vision of connecting everything by building a robust and secure wireless and digital network and extending the benefits of digital connectivity to everyone in India. As a world leader in wireless technologies, Qualcomm offers deep technology knowhow and insights that will help us deliver on our 5G vision and the digital transformation of India for both people and enterprises”.
Jio after its initial public offering of stakes has successfully got many global leading investors including Facebook, Intel, etc, leading to Mukesh Ambani jumping upper echelons of business and wealth fast even during the Pandemic.