Mukesh Ambani to Transform AI in the Next Year! Jio IPO, Reliance AI & Akash Ambani’s Big Bets

Reliance’s 49th AGM Decoded: India’s Biggest-Ever IPO, a Sovereign AI Built in Jamnagar, and a Phone Call That Books Your Cab for You

One meeting, one stage, and an entire decade’s worth of announcements. Here’s the complete story of what Mukesh Ambani — and the rest of the Ambani family — just told the country at Reliance’s 49th Annual General Meeting, and why it could quietly reshape how every Indian uses the internet, AI, and their phone.

Mumbai played host to something bigger than just another corporate event this week. Reliance Industries held its 49th Annual General Meeting, and the entire Ambani family — Chairman Mukesh Ambani, along with Akash, Isha, and Anant — took the stage together. The meeting opened not with numbers, but with a reference to the Rigveda, as Mukesh Ambani spoke of building a developed India by 2047, invoking the idea of “Amrit Kaal” — and declared that the next two years would be pivotal not just for Reliance, but for the entire country.

But the single biggest moment of the meeting was unmistakable: the Jio IPO. Reliance Industries has now formally filed its draft documents with SEBI for Jio’s public listing. Through the IPO, the company will issue 27 crore new shares. The exact price per share hasn’t been revealed yet — but according to a Dainik Bhaskar report, those 27 crore shares could be valued at roughly ₹47,000 crore. If that number holds, it would dethrone Hyundai Motor India’s $3.3 billion IPO from 2024 to become the largest IPO in Indian history.

So what else did Mukesh Ambani announce at this meeting? Let’s walk through it all.

The Real Headline: Reliance Is Betting Everything on Reliance AI

If one theme dominated this AGM more than any other, it was Reliance’s all-in bet on building its own AI. And the meeting made one thing unmistakably clear: this tool is being built to be cheap — following the exact same playbook Jio used to upend India’s telecom industry.

Cast your mind back to September 5, 2016, when Mukesh Ambani brought Jio into the telecom sector. Jio didn’t invent mobile technology. What it did was break the market’s existing financial structure to reach people. It made data and calling so radically cheap that users across the country began shifting to Jio almost on their own, without any persuasion needed. The Ambani family has now hinted at something strikingly similar for AI.

Mukesh Ambani said in direct terms that Reliance intends to make AI extremely cheap and easily accessible across India, triggering a major shift in the country’s economic structure. And here’s the detail that matters most for reach: Jio is building this AI in multiple Indian languages, specifically so that it can reach as many people as possible — not just English-speaking, urban, or tech-savvy users.

What exactly is “Sovereign AI”?

The term “sovereign AI” came up repeatedly through the meeting, and it’s worth understanding why it matters. In simple terms, sovereign AI refers to a platform that a country or company has the full capability to develop, control, and operate on its own — its own infrastructure, its own models, without depending on a foreign company’s servers or systems.

Akash Ambani revealed that Reliance Intelligence is building a sovereign AI in Jamnagar. Its first phase — a 120-megawatt facility — is expected to go live by the end of 2026. Reliance is bringing online an early set of advanced NVIDIA GB300 GPUs, and the plan is to offer sovereign AI hosting within India, complete with full model transparency and portability.

Meet the Jio Call AI Agent: An AI That Joins Your Phone Calls

Among all the announcements, this is the one most likely to land directly in your hands. Jio is rolling out a new voice assistant called the Jio Call AI Agent — built straight into the Jio network itself, with no app to download.

The service will be available to every Jio user and will support all major Indian languages. To use it, a person simply needs to say “Hey Jio” to activate the assistant, after which it can join an ongoing call and start helping in real time.

The capabilities go well beyond a simple voice command tool. During a live call, the AI agent can:

• Transcribe the conversation as it happens
• Recognize and distinguish up to 10 different voices on a single conference call
• Generate a call summary automatically once the conversation ends
• Create task lists and reminders based on what was discussed
• Take real-world actions mid-call — ordering food, booking a cab, reserving a restaurant table, or scheduling a follow-up meeting

Imagine being on a call, mentioning you need a cab in twenty minutes — and by the time the call ends, it’s already booked. That’s the experience Jio is building toward.

Jio’s Network Ambitions: A Hard Deadline for 5G, and Broadband for Every Home

On the telecom side, Jio has set itself an aggressive new target: shifting every single customer — old and new — fully onto its 5G network. Alongside that, Jio is pushing to extend home broadband to every part of India through Jio AirFiber, aiming to bring fast, fixed-line-quality internet even to areas that traditional broadband infrastructure has struggled to reach.

On the financial side, Akash Ambani shared a milestone worth noting: Jio’s post-tax profit has crossed ₹30,000 crore for the first time — a clear signal that the telecom-to-digital giant’s core business remains firmly profitable even as it pours resources into AI and new ventures.

A Coastal Garden for Mumbai

Not every announcement at the AGM was about chips and IPOs. Reliance also unveiled plans for a coastal garden in Mumbai — a public space designed around walking and cycling tracks, open lawns, public gyms, and dedicated play areas for children.

With families specifically in mind, the space will also include recreational features such as a museum, alongside facilities for cricket, football, tennis, kabaddi, basketball, paddle, and pickleball — turning a stretch of Mumbai’s coastline into a genuinely multi-generational public recreation hub.

Jio Hotstar’s Record-Breaking Year

Streaming had its own moment in the spotlight. Akash Ambani revealed that in financial year 2026, Jio Hotstar averaged 451 million monthly users — a number that makes it not just India’s largest streaming platform, but one of the largest in the entire world.

Akash also spotlighted Tadka, Reliance’s micro-content platform, which crossed the 100 million user mark in just two months of launch — a pace of adoption few platforms anywhere have managed to match.

Reliance’s Next Chapter: Becoming a Global Export Powerhouse

Looking beyond India’s borders, Mukesh Ambani laid out a new ambition: turning Reliance into a globally competitive, multi-sector export hub. The target is bold — $125 to $150 billion in exports by 2032, built around Indian-manufactured goods reaching international markets.

To support this new venture, Reliance has already begun hiring fresh talent specifically for this push. On the retail side, Jio has now opened more than 3,100 stores across the country, a network that has made it India’s largest quick-commerce operation.

Why This AGM Matters More Than the Usual Corporate Update

Strip away the scale of the numbers, and a clear pattern emerges from this AGM. Reliance is making the same bet twice — once with telecom in 2016, and now with AI in 2026. The strategy each time isn’t to invent the underlying technology, but to make access to it so cheap and so widely available in Indian languages that adoption becomes inevitable.

If the Jio IPO goes through anywhere near the ₹47,000 crore mark being discussed, it will mark a defining moment for India’s capital markets — proof that a homegrown digital company can list at a scale rivaling the biggest global tech offerings. And if Reliance’s sovereign AI in Jamnagar delivers on its promise, India’s AI infrastructure conversation shifts from “which foreign company hosts our data” to “what can we build and control ourselves.”

Whether it’s a farmer in a regional-language town asking an AI assistant a question, a family booking a cab mid-phone-call without lifting a finger, or millions of new investors eyeing India’s biggest-ever IPO — the changes announced at this AGM are built to reach far beyond Reliance’s boardroom.

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