<h1>Conglomerate and social media firm form Rs855 crore JV (70/30) to scale AI platforms; partner cloud for AI data centres</h1> A conglomerate (Company A) and a social media company (Company B) formed a joint venture to develop and scale enterprise AI solutions, capitalised with an initial commitment of about Rs 855 crore (70% by Company A, 30% by Company B). The JV will offer AI platform-as-a-service using Company B's open-source model. Separately, Company A agreed a partnership with a cloud provider (Company C) to establish AI-ready data centres leveraging Company C's compute, Company A's energy support and connectivity from Company A's telecom affiliate, aimed at broadening enterprise access to AI infrastructure and services.