Mumbai, June 10, 2026, 21:38 IST
- Reliance jumped up to 2.46% during the session on news of a Meta data-centre deal, but ended the day in the red.
- RIL is set to construct a 168 MW, AI-powered data center in Jamnagar, with Meta lined up as the tenant.
- What investors still lack: details on project cost, lease terms, and how long it’ll take to see returns.
Reliance Industries sprinted out of the gate after news broke of its Meta-backed AI data centre, only to lose steam and close lower as investors wondered just how profitable the project will be—and when. Shares listed on the NSE slipped to ₹1,258.80 by the end of the day, down 0.82%, despite an early jump of up to 2.46% to ₹1,300.50.
The reversal stings, since that announcement initially seemed like the boost Reliance had been waiting for. Shares have shed 4.14% in just the past week, extending their one-month slide to 12.29%. At Wednesday’s close, Reliance was trading near the bottom of its 52-week range between ₹1,254.40 and ₹1,611.80.
Reliance and Meta have struck a deal to jointly build an AI-focused data centre in Jamnagar, Gujarat. Reliance is set to deliver 168 megawatts of capacity over the next two years, and there’s an option to expand. In AI data centres, power isn’t just another line item—advanced chips need massive, constant electricity and serious cooling. A megawatt reflects how much power the centre can handle at once.
Meta plans to lease capacity from the facility. This marks Meta’s initial move into built-to-suit data centre capacity in India—it’s tailored for a single tenant’s needs rather than rolled out as a standard commercial offering. Reliance will handle everything from design and construction to utility management, renewable energy, network links, and managed services.
That’s what sparked the swift market response. With this deal, Reliance secures a global anchor tenant for its AI computing infrastructure play, all while leaning on resources it controls near Jamnagar—power, water, fibre connectivity, and closeness to western submarine cable landing stations.
Reliance’s chairman and managing director Mukesh Ambani described the deal as a “transformative moment for India’s digital infrastructure.” Over at Meta, CEO Mark Zuckerberg called the Jamnagar facility the company’s “first AI-enabled data center in India.”
The details are scarce. Meta hasn’t shared any financial specifics on the agreement, according to Reuters. That means investors are left guessing on key metrics—no revenue figures, no margin guidance, no capital costs, nothing on payback timelines, despite a clear strategic play.
“Reliance has the infrastructure and Meta has the AI expertise,” Deven Choksey, managing director at DRChoksey FinServ, told Reuters. That’s the bullish view in a nutshell: Reliance, already holding energy, land, and connectivity, could pivot to offering a contracted AI-infrastructure platform—going beyond just consumer digital plays. Reuters
The deal extends a partnership that goes back a few years. Meta put $5.7 billion into Jio Platforms back in 2020. Since then, the two firms have teamed up, bringing Meta’s Llama models into their enterprise AI toolkit. Now, with Wednesday’s agreement, they’re shifting gears—this time, taking the collaboration beyond apps and software into the actual hardware side: computing infrastructure.
Broader indices weren’t much help. The Nifty 50 slipped 0.12% to 23,214.95, while the Sensex managed a 0.09% gain at 73,983.18—financials did the heavy lifting, countering fresh jitters around Middle East tensions and oil. Amid that, Reliance’s retreat was more conspicuous; the shares failed to hang onto their AI-driven edge as the day wore on.
Execution is the big swing factor here. Building data centres eats up capital and power, and payback hangs on a mix of construction bills, lease rates, how full the place gets, energy and water reliability, cooling, rulebooks, and hardware flow. Meta’s promising to run the site on renewables and cool it with desalinated seawater, handling all costs for the facility’s energy and water. Still, Reliance faces the real test: pulling it off on schedule and showing the numbers work.
The next big test for investors comes soon. Reliance is set to hold its 49th annual general meeting on June 19 at 2:00 p.m. IST. The way the stock has been moving, it’s clear shareholders are after more than just AI talk—they’re looking for details on project costs, how leases are being set up, expansion timelines, and a firmer link between Jamnagar’s power assets and future earnings.
