Itaú buys NeoSpace for R$2.925 billion and bets on foundational AI
Published in edition no. 1 of Noticiário do Joãozinho ·
Translated by Joãozinho AI from the original Brazilian Portuguese edition. Facts, numbers and sources are the same as in the original; quotes, video titles and source names stay in their original language. Read the original in Portuguese
Part of the amount is paid at closing and the rest within up to 5 years. The deal depends on approval from Cade (Brazil's antitrust authority) and the Central Bank. NeoSpace keeps its autonomy, and the acquisition should help evolve the bank's AI assistant.
Why it matters It is the biggest bet by a Brazilian bank on its own AI: instead of just licensing models, Itaú is buying the ability to build them.
Original source: Itaú Unibanco (fato relevante) · Valor Econômico — https://investidor10.com.br/acoes/link_comunicado/ITUB4/51311/