Reliance Global Group Signs LOI to Acquire a GPU Cloud Provider, Targeting Rapid Growth in AI Infrastructure
Globe Newswire•22/10/2026•12:15 ET
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Key Highlights
- ➤$3.375 million acquisition price includes $3 million cash at closing
- ➤No shareholder dilution; acquisition funding already in place and company remains debt-free
- ➤Closing anticipated in early November 2026, subject to definitive agreements and conditions
- ➤Reliance plans GPU Exchange rebrand and Nasdaq ticker change from EZRA to XGPU
- ➤Acquisition targets GPU cloud and marketplace operations for AI computing workloads
Expert Statements
Ezra Beyman, Chairman and Chief Executive Officer of Reliance Global Group
“The proposed acquisition provides an operating foundation for our entry into AI infrastructure, with a clear strategy to scale substantially”
Ezra Beyman, Chairman and Chief Executive Officer of Reliance Global Group
“We believe this is the most significant step in the Company’s evolution to date. We are pursuing this acquisition with no outstanding debt, funding already in place and no dilution to existing shareholders.”
Judah Korman, Chief Operating Officer of Reliance Global Group
“Our focus is execution: acquiring and deploying GPUs, growing the customer base and making it easier for hardware owners to earn revenue through the marketplace”
Judah Korman, Chief Operating Officer of Reliance Global Group
“By combining our own GPU fleet with third-party capacity, we intend to scale supply rapidly and serve more customers through a single platform. GPU Exchange will bring these efforts together under one brand.”
Acquisition Structured With No Shareholder Dilution; Company Remains Debt-Free With Acquisition Funding Already in Place
Company to Rebrand as “GPU Exchange” and Plans to Change Its Nasdaq Ticker to “XGPU”
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