Tech giant, Microsoft Corp. is negotiating an investment of as much as $2 billion in billionaire Mukesh Ambani’s Jio Platforms Ltd, the digital unit of India’s most valuable company, as per reports. Microsoft has been in discussions with several players in the digital payments services space. With Reliance, Microsoft is interested in buying more than a 2.5 per cent stake in Jio Platforms.

If the negotiations are successful, the world’s most valuable company will get a slice of Jio Platforms that has already attracted investments worth $10 billion in just a month from marquee investors, including Facebook Inc., KKR & Co., Silver Lake, Vista Equity Partners and General Atlantic.

In February, Microsoft’s chief executive Satya Nadella said the company has forged a partnership with Reliance Jio. As part of the deal, Reliance Jio plans to set up data centres across the country and use Microsoft Azure’s cloud services for enterprise clients.

Foreign investors are making a beeline for Jio Platforms as they seek to tap India’s fast-growing digital market. Jio Platforms combines all of Reliance’s digital and telecom initiatives, including Jio digital services (mobile, broadband), apps, tech capabilities (artificial intelligence, Big Data, Internet of Things, etc.,) and other investments such as in Den Networks, Hathway Cable and Datacom Ltd.

Facebook’s April announcement stated that it would invest $5.7 billion for a 9.99 per cent stake in Jio was quickly followed by $750 million from Silver Lake and $1.5 billion from Vista Equity Partners. On 17 May, Jio Platforms said it was raising $870 million from General Atlantic.

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