Microsoft was tipped to invest as much as $2 billion in Reliance Industries subsidiary Jio Platforms, Hindustan Times reported, a move which continues a streak of US companies pouring cash into the Indian business.

The company is reportedly in negotiations to take more than a 2.5 per cent stake in Jio Platforms, though Hindustan Times noted it is possible the deal could fall through.

An investment would make Microsoft the sixth US company to invest in the India-based digital giant since April, after Facebook and private equity companies KKR, General Atlantic, Vista Equity Partners and Silver Lake pumped a collective $10.46 billion into the company.

Jio Platforms operates a range of broadband and online commerce services, including Reliance Jio, India’s largest mobile operator by subscribers.

Microsoft already has ties to Reliance Jio, inking a cloud services and collaboration deal with the operator in August 2019 in a bid to speed adoption of technologies including data analytics, AI, IoT and edge computing.

Though Microsoft moved in recent months to strengthen its 5G capabilities, it is unclear whether Reliance Jio might have any interest in collaborating on that front in future: the operator in March claimed to have developed its own end-to-end 5G system.