Qualcomm buys $97 million stake in India's Reliance Jio

Reliance Jio continues to rack up investment from a who's who of U.S. tech giants, with Qualcomm Ventures becoming the latest to take a stake in the Indian telecom firm. Qualcomm is investing around $97 million for a 0.15% stake in Jio Platforms, according to a press release.

Why it matters: Qualcomm's venture unit joins Facebook and Intel Capital in having invested in recent weeks, along with Silver Lake, Vista Equity Partners and General Atlantic.

Go deeper: Meet Jio, everyone's favorite Indian tech investment