Itaú agrees to acquire Brazilian AI startup NeoSpace

Itaú describes NeoSpace as a Brazilian artificial intelligence startup specializing in foundational models trained on large-scale datasets.[1] The bank says NeoSpace has provided services for nearly two years, developing models trained on Itaú’s proprietary data.[1] It says those models enable generative AI solutions at scale for the bank’s businesses and clients, and support increasingly personalized financial and credit management.[1] Itaú also reports that its existing work with NeoSpace has delivered significant results in credit, customer relationship management and fraud prevention.[1]

Itaú set the purchase price at 2.925 billion Brazilian reais.[1] It says part of that amount is payable at closing, while the remainder is deferred over five years and subject to conditions.[1] Completion is also subject to prior approval by Brazil’s antitrust authority, CADE, and the Central Bank of Brazil.[1] Dollar values reported by news outlets differ: Channel NewsAsia reported $589 million, while a Bloomberg headline put the value at $580 million.[2][3] Itaú’s material fact is dated October 26, 2026.[1]

Itaú says combining NeoSpace’s capabilities with the bank’s data, expertise and scale will enable more specialized models and broader use across its products and services.[1] It says the deal aligns with continued development of its generative AI assistant, ia.i, which it says will enhance customer personalization and help tailor interactions and solutions to individual needs.[1] NeoSpace’s management and business operations will remain autonomous from the bank, and Itaú says the current team will be retained.[1] Valor International reported that NeoSpace will continue its research and development activities.[4]