Nubank said it will invest BRL45bn ($9.04bn) in Brazil by 2026, nearly doubling spending from the previous two years, according to a statement.

The lender, which serves 113mn clients in Brazil, said the funds will support artificial intelligence initiatives, product development, office expansion and hiring as it scales operations, Xinhua reported.

"The amount includes all of the company's economic activities in Brazil, including reinvestment of profits, investments in technological infrastructure, operating expenses and taxes," the company said.

The plan includes further development of AI-based credit systems and the rollout of services designed to simplify financial management for users.

Nubank also expects to expand teams and facilities, allocating more than BRL2.5bn to infrastructure over five years, alongside efforts to strengthen its capital base.

The bank reported revenue of BRL91bn in 2025, up 45% year on year excluding currency effects. Net income reached BRL16.2bn, with return on equity at 33%.