Itaú to Buy AI Startup NeoSpace for About $589 Million

Oct 26, 2026
Brazilian bank Itaú Unibanco agreed to buy AI startup NeoSpace for 2.925 billion reais, about $589 million.

Brazilian bank Itaú Unibanco agreed to buy all shares of artificial intelligence startup NeoSpace AI for 2.925 billion reais, about $589 million, Reuters reported, citing a securities filing. Part of the price is due at closing and the rest is deferred over five years.

NeoSpace specializes in large AI models and has worked with Itaú for nearly two years, according to the filing. The deal needs regulatory approval and is subject to customary closing conditions.

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