OpenAI, Meta in talks with Reliance Industries for AI partnerships in India: Report
New Delhi: In a move to expand their Artificial Intelligence (AI) offerings in India, OpenAI and Meta Platforms are reportedly in discussions with Reliance Industries regarding potential partnerships.
According to a report from The Information, cited by Reuters, OpenAI has discussed with employees the possibility of lowering the subscription price for its ChatGPT service, potentially reducing the monthly fee from $20 to a few dollars. However, it remains unclear whether OpenAI has directly discussed such pricing changes with Reliance.
Sources familiar to the matter mentioned that a possibility is being explored involving a relationship between Reliance Jio and OpenAI to distribute ChatGPT.
As part of the discussions, Reliance Industries has reportedly proposed selling OpenAI’s models to its enterprise customers via an Application Programming Interface (API). According to the report, the Mukesh Ambani-led conglomerate has expressed interest in hosting and running OpenAI's models locally in India, which would ensure the privacy and security of Indian data.
Additionally, Reliance has discussed running the Meta and OpenAI models in a three-gigawatt data center that the company is planning to build, which it claims will be the largest data center in the world, located in Gujarat’s Jamnagar.
While Meta declined to comment on The Information report, OpenAI and Reliance have not yet responded to requests for comment on the report.
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Rupee falls 9 paise to all-time low of 90.58 against US dollar in early trade
Mumbai (PTI): Rupee depreciated 9 paise to an all-time low of 90.58 against US dollar in early trade on Monday, weighed down by uncertainty over an India-US trade deal and persistent foreign fund outflows.
Forex traders said rupee is trading with a negative bias as investors are in wait and watch mode and awaiting cues from the India-US trade deal front.
At the interbank foreign exchange market, the rupee opened at 90.53 against the US dollar, then fell further to an all-time intraday low of 90.58 against the greenback, registering a fall of 9 paise over its previous close.
On Friday, the rupee had slipped 17 paise to close at an all-time low of 90.49 against the American currency.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.05 per cent lower at 98.35.
Brent crude, the global oil benchmark, was trading higher by 0.52 per cent at USD 61.44 per barrel in futures trade.
On the domestic equity market front, the 30-share benchmark index Sensex was trading 298.86 points lower at 84,968.80, while the Nifty was down 121.40 points at 25,925.55.
Foreign Institutional Investors sold equities worth Rs 1,114.22 crore on Friday, according to exchange data.
"FPIs continue to be in selling mode in equity and debt while RBI has been selling dollars to fund their long positions," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.
