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Big Push into India, Facebook Invests $5.7 Billion in Jio

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Narendra Modi, India’s prime minister, speaks as Mark Zuckerberg, chief govt officer of Facebook, listens throughout a city corridor assembly at Facebook headquarters in Menlo Park, California.

Facebook has taken a big stake in the digital arm of a huge Indian conglomerate because the U.S. expertise large makes a greater push into what it sees as one in every of its largest developed markets.

The social community made a $5.7 billion funding in Jio Platforms Restricted, owned by Reliance Industries which is run by billionaire Mukesh Ambani

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Jio Platforms has a variety of manufacturers below it together with its telecommunications enterprise Reliance Jio which has grown quickly because of aggressive pricing to grow to be the primary cellular service in India by income and subscriber base.

“This funding underscores our dedication to India, and our pleasure for the dramatic transformation that Jio has spurred in the nation,” Facebook mentioned in a weblog publish on Tuesday.

The funding offers Facebook a 9.99% stake in Jio Platforms and provides it a pre-money enterprise worth of $65.95 billion. 

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India is vital for Facebook’s WhatsApp messaging service which has over 400 million customers in the nation. 

Facebook mentioned it’s going to work with Jio to create “new methods for individuals and companies to function extra successfully in the rising digital financial system.” 

This might embody bringing collectively JioMart, Jio’s small enterprise initiative and WhatsApp to attach individuals to companies and retailers. The transfer is well timed as Facebook is gearing to launch a funds characteristic for WhatsApp in India. 

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The funding could possibly be key for a variety of causes together with entry to Jio Platforms’ greater than 380 million consumer base in addition to having the political backing of Ambani. 

Facebook has been attempting numerous means to get a robust foothold in the Indian market over the previous few years nevertheless it has not all the time been profitable. In 2016, Indian regulators blocked a Facebook service referred to as “Free Fundamentals” which regarded to provide free entry to widespread internet providers akin to Wikipedia. 

The premise was that some websites wouldn’t cost customers information prices. However that, critics mentioned, went towards the thought of “internet neutrality” — the concept all websites must be handled equally in the case of information. 

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Facebook shares had been up 2.5% in after-hours commerce. 

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SK Telecom, global telcos to form AI language model joint venture

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SK Telecom, global telcos to form AI language model joint venture

Seoul, Feb 26 (IANS) SK Telecom, South Korea’s leading mobile carrier, announced plans to establish a joint venture with global mobile carriers to develop large language models (LLMs) for telecommunications companies. The joint venture will include SK Telecom, Deutsche Telekom, e& Group, Singtel, and Softbank, aimed at improving customer interactions through digital assistants and chatbots.

During the Global Telco AI Alliance’s inaugural meeting at the Mobile World Congress Barcelona 2024, SK Telecom revealed its strategy to collaborate on developing LLMs tailored for telcos. The joint venture will focus on creating multilingual LLMs optimized for Korean, English, German, Arabic, and Japanese, with the potential to expand to more languages in the future.

With an estimated global customer base of 1.3 billion across 50 countries, including SK Telecom’s 31 million subscribers and Deutsche Telekom’s 250 million subscriptions, the joint venture aims to enhance efficiency in telco operations. SK Telecom’s CEO Ryu Young-sang stated, “Our ultimate goal is to discover new business models by redefining relationships with customers,” highlighting the significance of tailored LLMs for the telecommunications industry.

The joint venture’s mission aligns with the increasing demand for personalized customer interactions in the telco sector. By leveraging the expertise of multiple global mobile carriers, the collaboration seeks to revolutionize customer service through advanced language models. Stay tuned for further developments on this groundbreaking initiative in the telecommunications industry.

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Micron begins volume production of new chip for AI workloads

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Micron begins volume production of new chip for AI workloads

Micron Technology, a semiconductor leader, has announced the volume production of its HBM3E solution, reducing data centre operating costs by 30%. The 24GB 8H HBM3E will be part of Nvidia H200 Tensor Core GPUs, starting shipments in Q2 of 2024.

Sumit Sadana, EVP and chief business officer at Micron Technology, highlighted the importance of memory bandwidth for AI workloads. The new HBM3E solution offers over 1.2 TB/s memory bandwidth with a pin speed greater than 9.2 Gb/s, catering to AI accelerators, supercomputers, and data centres.

Micron’s HBM3E solution sets the industry standard with 30% lower power consumption compared to its competitors. The company is also introducing a 36GB 12-High HBM3E, promising superior performance and energy efficiency in comparison to similar products, with sampling set for March this year.

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Gaganyaan mission: PM Modi to reveal names of 4 test pilots during VSSC visit

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Gaganyaan mission: PM Modi to reveal names of 4 test pilots during VSSC visit

Prime Minister Narendra Modi is set to disclose the names of four test pilots undergoing training for India’s Gaganyaan Mission during his visit to the Vikram Sarabhai Space Centre (VSSC) on Tuesday. The visit is to review preparations for the mission, with one test pilot hailing from Kerala.

The four test pilots completed their training in Russia and are now at a unit of ISRO, familiarizing themselves with the mission. Three of them will be aboard the Indian-crewed orbital spacecraft. The PM will also inaugurate three facilities including the Trisonic Wind Tunnel and Semi-cryogenic Integrated Engine at ISRO Propulsion Complex, Mahendragiri.

In addition, the PSLV Integration Facility at the Satish Dhawan Space Centre in Andhra Pradesh will also be inaugurated by PM Modi during his visit to the VSSC in Kerala. The Prime Minister is scheduled to arrive at the VSSC center at 10.45 a.m. on Tuesday and will spend an hour there. This visit signifies a significant step in India’s space exploration journey.

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