Qualcomm is the second chipmaker to pump money in Jio Platforms after Intel invested $253 million to pick up a 0.39% share. The US-based chipmaker is a key player in 5G development, especially when it comes to mobile phones. The investment can help both companies test 5G in India. Mukesh Ambani, Reliance’s Chairman, said Qualcomm offers insights that will help us deliver our 5G vision: In the past few months, Jio has raised a total of $15.73 billion from 13 investors including some prestigious names such as Facebook, Silver Lake Partners, and General Atlantic. In exchange, the Indian company has given up 25.24% stake of the firm. Reliance Jio has already raised more capital in 2020 than all of India’s startups combined in 2019.
