Reliance Global Group signs LOI to buy a GPU cloud provider

what happened

Reliance Global Group, Inc. said it signed a non-binding letter of intent (LOI) on September 23, 2026 to acquire the assets of a GPU cloud provider and marketplace operator that offers on-demand computing for AI training, inference and other demanding workloads. According to the press release published on GlobeNewswire, the deal would mark the company's entry into the AI cloud market.

At closing, $3,375,000 is payable: $3,000,000 in cash and $375,000 placed in escrow. Another $375,000 is due 12 months after closing, subject to milestones, and $250,000 in consulting fees will go to the founder over the following 12 months. Reuters reports the same amount, about $3.38 million. The company also has an optional $500,000 investment in a company related to the seller. Reliance says it is debt-free and that the all-cash purchase price means no dilution for shareholders.

The company plans to change its Nasdaq ticker from EZRA to XGPU and adopt GPU Exchange as its brand name. Shares continue to trade under EZRA, and the deal has not closed yet.

why it matters

For markets this is a small transaction, and the agreement is not yet definitive. Investor interest may depend on whether the company can scale its new AI infrastructure business.

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