Itaú agrees to buy AI startup NeoSpace for about $580M
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.
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; Briefs)
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)