Reliance Global seeks GPU cloud assets with $3m closing payment

Reliance Global Group said in an Oct. 23 press release it signed a non-binding letter of intent dated Sept. 23 to buy GPU cloud assets, with $3 million due at closing.

For Reliance Global, the proposed all-cash deal would add a GPU marketplace business, with two $375,000 payments tied to milestones and $250,000 in founder consulting fees over 12 months.

The target operates a platform that links customers seeking computing capacity with providers of graphics processing units, chips used for artificial intelligence, machine learning and rendering workloads. Reliance Global said the platform also allows third-party hardware owners to earn rental revenue.

Reliance Global said the transaction would not dilute shareholders because it plans to pay cash and issue no stock. The company also said it is debt-free and has acquisition funding in place.

The letter of intent is non-binding, and the acquisition has not closed. Reliance Global said due diligence is substantially complete, with closing expected in early November 2026 if definitive agreements are completed and closing conditions are met.

After any acquisition, Reliance Global said it plans to rename itself GPU Exchange and change its Nasdaq ticker from EZRA to XGPU. The company said it would announce the effective date of a ticker change separately.

Reliance Global said its growth plan has two parts: building a company-owned GPU fleet and expanding the marketplace to bring in more customers and hardware providers. The company currently operates insurance and technology businesses.

Source: press release reported by Investing Australia, Oct. 23, 2026