Chipmaker Qualcomm invests $97 million in Jio Platforms

Chipmaker Qualcomm invests $97 million in Jio Platforms


US chipmaker Qualcomm announced today that it’s investing $97 million (₹730 crores) in Jio Platforms in exchange for a 0.15% stake in the company through its venture arm. Qualcomm is the second chipmaker to pump money in Jio Platforms after Intel invested $253 million to pick up a 0.39% share. 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…

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