🇺🇸Reliance Global Group (Nasdaq: EZRA), an insurance-and-technology operator, disclosed a non-binding letter of intent to acquire a GPU-cloud provider and marketplace.

Reliance’s October 23 Form 8-K disclosed that it entered into the non-binding letter of intent (LOI) on September 23, 2026. The proposed transaction is an asset purchase from a privately held technology company, not a completed acquisition of the seller’s corporate entity.

The proposed purchase covers all or substantially all assets, rights, customer and vendor relationships, intellectual property, and goodwill comprising the target business. That business supplies on-demand graphics processing unit (GPU) computing capacity and operates a marketplace through which third-party hardware owners offer capacity for rental.

The accompanying October 22 company press release identifies AI training, inference, machine learning, rendering, and other demanding workloads as applications. Reliance describes the acquisition as its intended entry into GPU-cloud infrastructure from its existing insurance and technology businesses, with subsequent plans to acquire a company-owned GPU fleet and expand the marketplace.

Reliance said due diligence was substantially complete and anticipated closing in early November 2026, subject to definitive agreements and applicable closing conditions. The proposed GPU Exchange business name, XGPU Nasdaq ticker, and fleet expansion remain company plans; the filing does not establish that these changes or deployments have occurred.