The bank plans to pay part at closing and the rest over five years; it still needs regulatory approval and must meet closing conditions before it can take ownership.
Brazilian bank Itau said on October 26 that it had agreed to buy all shares of NeoSpace AI for 2.925 billion reais (about $589 million). The terms appear in a securities filing cited by Reuters.
The filing says part of the price is due when the deal closes, with the balance payable over five years. Itau said NeoSpace specializes in large superintelligence (SI) models and has worked with the bank for nearly two years.
The agreement would bring NeoSpace under Itau’s ownership, but the purchase still needs regulatory approval and must meet customary closing conditions.
The satellite operator expects access to more than twice OneWeb’s current bandwidth in return for spending in 2027–2034, with initial IRIS² services expected from 2030.
3 min
Microsoft reported $33.17 billion in Azure revenue and a 22% year-over-year decline in Windows OEM and devices revenue. Its reporting overhaul brings quarterly disclosure of Azure’s dollar contribution.
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The US wireless carrier’s third-quarter service revenue rose 6% to $19.4 billion as it raised its expectations for the full year.
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