Reliance Global Group plans GPU cloud acquisition for $3.4M

Lakewood, New Jersey - On September 23, 2026, Reliance Global Group, Inc. (NASDAQ: EZRA) announced it had entered into a non-binding letter of intent to acquire a GPU cloud provider and marketplace. The acquisition, valued at $3.4 million, is structured as a cash transaction, with $3 million due at closing and $375,000 placed in escrow, along with another $375,000 payable 12 months post-closing.

Both escrow payments hinge on meeting predetermined milestones, while a $250,000 consulting fee is due to the founder within a year of closing. The agreement also includes an optional $500,000 investment in a related company. The target provides a GPU marketplace for AI, machine learning, and rendering workloads, allowing hardware owners to earn rental revenue.

Reliance clarified that the transaction will not dilute shareholders, as the purchase price is paid entirely in cash, without issuing new shares. The firm, currently debt-free and with acquisition funds ready, anticipates closing in early November 2026, pending finalization of definitive agreements and meeting closing conditions.

Post-acquisition, Reliance plans to rebrand as GPU Exchange and alter its Nasdaq ticker symbol from EZRA to XGPU. The company aims to expand its business through two strategies: increasing its owned GPU fleet and broadening the proprietary GPU marketplace to attract more users and providers. Reliance Global Group currently operates in insurance and technology sectors. The letter of intent remains non-binding, and the acquisition has not yet transpired.