** Shares of Reliance Industries RELI.NS rise 1.73% to 1,291.10 rupees

** Meta META.O ties up with billionaire Mukesh Ambani's RELI for the U.S. firm's first AI-enabled data center in India

** RELI will build a data center with 168 MW capacity in Jamnagar in the western Indian state of Gujarat, which Meta will lease, with options to scale

** In August last year, the firms had formed a joint venture to build AI platforms and tools for enterprises in India, using Meta's Llama models with an initial investment of 8.55 billion rupees ($89.47 million)

** In 2020, Meta invested $5.7 billion in IPO bound Jio Platforms

** Twenty-nine analysts have a "buy" rating on avg on RELI; median PT is 1,695 rupees - data compiled by LSEG

** YTD, RELI down ~19%

($1 = 95.5575 Indian rupees)