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# Itaú agrees to buy AI startup NeoSpace for about $580M
- URL: https://www.enterprisey.com/itau-agrees-to-buy-ai-startup-neospace-for-about-580m/
- Published: 2026-10-26T22:51:33.000Z
- Updated: 2026-10-26T22:51:33.000Z
- Description: Itaú Unibanco agreed to buy Brazilian AI startup NeoSpace for 2.9B reais, about $580M, in cash, to speed up development of its own AI models.
- Author: Enterprisey Admin
- Tags: News, Acquisition

Itaú Unibanco, Brazil's largest bank by assets, agreed on Oct 26 to buy all of Brazilian AI startup NeoSpace for 2.9B reais, about $580M, in cash. The deal needs regulatory approval. ([Dealroom](https://app.dealroom.co/news/note/ita-buys-ai-startup-neospace-for-580m-in-all-cash-deal?ref=enterprisey.com); [Briefs](https://www.briefs.co/news/itau-snaps-up-neospace-ai-for-2-9-billion-reais-to-accelerat/?ref=enterprisey.com))

NeoSpace, founded in 2023, builds foundation models that find patterns across large, mixed datasets. Itaú led an $18M round in the company in early 2025 and says the purchase will speed up its own AI models; NeoSpace will keep running independently. ([Briefs](https://www.briefs.co/news/itau-snaps-up-neospace-ai-for-2-9-billion-reais-to-accelerat/?ref=enterprisey.com))