Summary by Futu AI
On September 30, 2024, reAlpha Tech Corp., a real estate technology company listed on Nasdaq under the symbol AIRE, announced an investment in Xmore AI through its reAlpha AI Labs initiative. Xmore AI, co-founded by Dr. Benjamin Yan and Adrian Self, specializes in AI-driven cybersecurity solutions and is developing a platform to consolidate various cybersecurity tools. This strategic investment is expected to enhance the cybersecurity features of reAlpha's AI-powered homebuying platform and support Xmore AI's continued software development. The investment also aligns with reAlpha's broader strategy to foster AI technology innovation within the real estate industry. The announcement was made via a press release, which is furnished as Exhibit 99.1 to the Current Report on Form 8-K filed with the SEC. reAlpha's recent acquisitions, including Naamche, Hyperfast, Be My Neighbor, and AiChat, are also expected to benefit from Xmore AI's cybersecurity advancements. The press release contained forward-looking statements regarding the potential benefits of the investment and the anticipated demand for AI-driven cybersecurity solutions.