{"id":1012754,"date":"2026-10-22T12:19:24","date_gmt":"2026-10-22T16:19:24","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/reliance-global-group-signs-loi-to-acquire-a-gpu-cloud-provider-targeting-rapid-growth-in-ai-infrastructure\/"},"modified":"2026-10-22T12:19:24","modified_gmt":"2026-10-22T16:19:24","slug":"reliance-global-group-signs-loi-to-acquire-a-gpu-cloud-provider-targeting-rapid-growth-in-ai-infrastructure","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/reliance-global-group-signs-loi-to-acquire-a-gpu-cloud-provider-targeting-rapid-growth-in-ai-infrastructure\/","title":{"rendered":"Reliance Global Group Signs LOI to Acquire a GPU Cloud Provider, Targeting Rapid Growth in AI Infrastructure"},"content":{"rendered":"
\n

\n Acquisition <\/i>
\n Structured With No Shareholder Dilution<\/i>
\n ; Company <\/i>
\n Remains Debt-Free With Acquisition Funding Already<\/i>
\n in <\/i>
\n Place<\/i>\n <\/p>\n

\n Company to <\/i>
\n Rebrand as \u201c<\/i>
\n GPU Exchange<\/i>
\n \u201d<\/i>
\n and <\/i>
\n Plans to Change Its Nasdaq Ticker to \u201c<\/i>
\n XGPU<\/i>
\n \u201d<\/i>\n <\/p>\n

\n Due Diligence Substantially Complete; Closing Anticipated in Early November 2026<\/i>\n <\/p>\n

LAKEWOOD, NJ, Oct. 22, 2026 (GLOBE NEWSWIRE) — Reliance Global Group, Inc. (Nasdaq: EZRA) (\u201cReliance<\/b>,\u201d \u201cEZRA<\/b>\u201d or the \u201cCompany\u201d)<\/b> today announced that on September 23, 2026, it executed a non-binding letter of intent (the \u201cLOI\u201d) to acquire the assets of a GPU cloud provider and marketplace operator delivering on-demand computing infrastructure for AI training, inference and other demanding workloads. The proposed acquisition would mark Reliance\u2019s entry into the AI cloud market, with plans to scale rapidly through investment in a Company-owned GPU fleet and expansion of the acquisition target\u2019s proprietary marketplace.<\/p>\n

The business being acquired delivers on-demand computing capacity for artificial intelligence and other compute-intensive applications while enabling third-party GPU owners to earn revenue by offering their hardware through its platform. Reliance intends to build on this operating foundation by acquiring additional graphics processing units (\u201cGPUs\u201d), increasing available computing capacity and broadening marketplace participation.<\/p>\n

The proposed acquisition is structured to result in no dilution to existing shareholders, as the purchase price is payable entirely in cash and no shares of the Company\u2019s common stock will be issued as consideration for the acquisition, and the funds required to complete the transaction are already in place. Under the LOI, $3,375,000 is payable at closing, consisting of $3,000,000 in cash and $375,000 funded into escrow. A further $375,000 is payable 12 months after closing. Both $375,000 payments are subject to the achievement of specified milestones, and the Company will also pay $250,000 of consulting fees to the founder of the business over the 12 months following closing. The LOI also provides for an optional $500,000 investment by the Company in a related company of the seller. Reliance reiterated that it is debt-free, having retired 100% of its term debt. Due diligence is substantially complete, and the Company anticipates closing in early November 2026, subject to finalizing definitive agreements and satisfying applicable closing conditions.<\/p>\n

In connection with this strategy, Reliance plans to adopt GPU Exchange as its doing-business-as (\u201cDBA\u201d) name and change its Nasdaq trading symbol from EZRA to XGPU. Following completion of the acquisition, the acquired business would operate under the GPU Exchange brand. The Company will announce the effective date of any ticker change separately. Its shares currently continue to trade under EZRA.<\/p>\n

\u201cThe proposed acquisition provides an operating foundation for our entry into AI infrastructure, with a clear strategy to scale substantially,\u201d said Ezra Beyman, Chairman and Chief Executive Officer of Reliance Global Group. \u201cWe believe this is the most significant step in the Company\u2019s evolution to date. We are pursuing this acquisition with no outstanding debt, funding already in place and no dilution to existing shareholders.\u201d<\/p>\n

\u201cOur focus is execution: acquiring and deploying GPUs, growing the customer base and making it easier for hardware owners to earn revenue through the marketplace,\u201d said Judah Korman, Chief Operating Officer of Reliance Global Group. \u201cBy 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.\u201d<\/p>\n

While Reliance continues to operate, enhance and grow the RELI Exchange platform, the Company believes the proposed acquisition creates new opportunities for expansion and scale.<\/p>\n

\n Entering the Market with a Strategy for Rapid Scale<\/b>\n <\/p>\n

Following completion of the acquisition, Reliance intends to pursue growth through two complementary initiatives:<\/p>\n