Itaú Unibanco to Buy AI Startup NeoSpace for 2.925 Billion Reais
Brazil’s largest bank says the acquisition will bring NeoSpace’s foundation-model capabilities and team into its technology strategy; closing remains subject to regulatory approval.
SÃO PAULO — Itaú Unibanco announced on Oct. 26, 2026 that it agreed to acquire all shares of Brazilian artificial-intelligence startup NeoSpace A.I. Technologies for 2.925 billion reais, approximately $589 million based on reported conversions. The transaction remains subject to approval by Brazil’s Central Bank and the Administrative Council for Economic Defense, known as CADE.
NeoSpace develops large foundation models and related AI capabilities. Itaú said the acquisition is intended to strengthen its technology and artificial-intelligence strategy, while NeoSpace will retain autonomous management and its current team under the announced arrangement.
The payment structure includes an initial amount at closing and a deferred balance paid over five years. That makes the headline consideration different from cash paid immediately and leaves the final economics dependent on the transaction documents and closing conditions.
For a large bank, owning AI-model capabilities can support more control over data, deployment and product integration than relying only on external vendors. It also brings model-governance, security, talent-retention and regulatory responsibilities. The acquisition is announced, not completed, and its effect on Itaú’s customer products has not yet been specified.