- 30 Aug 2024
- ICICI Securities
RIL: Showcases AI capabilities; Aspires to double Jio & Retail Revenues/EBITDA in 3-4 years
News: RIL, in its AGM laid out its strategy in AI stating Jio is developing a suite of tools and platforms that span the entire AI lifecycle, called Jio Brain. It will also set up gigawatt-scale AI-ready data centres at Jamnagar, in Gujarat powered by the company's green energy. Further, it announced a Diwali offer for its Jio AI-Cloud service, offering 100GB of free storage for Jio users. The company has filed 350 patents in 6G and 5G tech. Jio carries nearly 8 per cent of global mobile traffic. Jio will aim to add a million broadband homes every month to achieve 100 million home broadband customers in a record time. Jio is also targeting over 20 million small and medium businesses, 1.5 million schools and colleges, over 70,000 hospitals, and 1.2 million doctors to connect with broadband.
Views: As per the management, Jio and Retail are expected to double their revenues and EBITDA in the next 3-4 years. A bulk of the growth in Telecom segment is likely to be ARPU growth led along with Broadband, in our view.
Impact: Positive