Intel, India's Reliance Jio Partner To Develop 5G Technology: Reuters - Intel (NASDAQ:INTC)

Intel Corp INTC confirmed that it would collaborate with India’s Reliance Jio to develop a 5G radio-access network (RAN), among other things, Reuters reports.
Last year, Intel’s venture capital unit invested $250 million in Reliance Industries Ltd’s Jio Platforms unit to explore areas of technology partnership.
Reliance Jio aims to build 5G networks using software to handle more network functions and tapping similar standard computing equipment used in data centers to run the networks.
Networking chips have become an increasingly important part of Intel’s business, growing 20% in 2020 to account for $6 billion of its $77.9 billion in overall sales. Intel’s decision to invest in software akin to an operating system for its network chips accounted for a part of the growth. The system, called FlexRAN, allows carriers or software firms to write code for 5G networks.
According to Intel, Cohere Technologies software could double utilize some network spectrum using Intel’s chips, benefiting carriers that spend billions acquiring spectrum rights.
Price action: INTC shares traded higher by 0.26% at $55.81 on the last check Monday.