Mukesh Ambani loses Rs 330000000000 in just 1 day due to…
GH News October 25, 2024 12:06 PM
Mukesh Ambani news: In a shocking industry-impacting move Mukesh Ambani has lost more than Rs 33000 crore in wealth in a single day. Due to the recent decline in the stock market the total wealth of Reliance Industries Chairman came down to $109 billion. Due to uncertainty among investors and weakness in international markets Mukesh Ambanis wealth has seen a massive drop of $3.95 billion (about Rs 33 thousand crores) in a single day as per a report by Bloomberg Index. Why Mukesh Ambani lost $3.95 billion in 1 day? The huge fall in the total wealth of the Reliance Chairman has been recorded due to the sharp decrease in the shares of Reliance Industries one of Indias largest companies. As a result of the downfall a sense of panic has spread in the Indian stock market. The significant fall in Mukesh Ambanis wealth has a potential to impact his business but it is expected that he will make a strong comeback soon. However if the decline in the share prices continue it can also affect the companys long-term growth plans Nvidia to supply AI chips to Mukesh Ambanis Reliance As per a report by news agency PTI Nvidia Corp will supply artificial intelligence processors to Mukesh Ambanis Reliance Industries Ltds 1 gigawatt under-construction data centre in Gujarat. It will also team up with tech giants Infosys TCS Tech Mahindra and Wipro to deepen partnerships in growing Indian market its CEO Jensen Huang said on Thursday. Nvidia will supply its Blackwell AI processor for the Reliance data centre while its Hopper AI chips will be supplied to large-scale data centres of firms like Yotta Data Services and Tata Communications. Nvidia ties up with Infosys Reliance TCS and Wipro Also Infosys TCS and Wipro will help clients deploy AI with custom-built solutions that use the US giants enterprise software platform. Tech Mahindra will use its new Hindi-language AI model to develop a custom AI model called Indus 2.0. Huang and Reliance boss Mukesh Ambani shared the stage at Nvidias AI summit here as the two announced a partnership to build out artificial intelligence infrastructure and spur the technologys adoption in India. (With inputs from agencies)
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