Adviser, Partnership and Operating Update
This announcement contains inside information for the purposes of the UK version of the market abuse regulation (EU No. 596/2014) as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR"). Upon the publication of this announcement, this inside information is now considered to be in the public domain.
22 October 2026
Potentially AI PLC
("Potentially" or the "Company")
Appointment of Technical Adviser, Strategic Technology Partnership and Operating Update
Potentially AI PLC (AIM: AGI), the collective AI company, announces the appointment of Iliya Valchanov as Technical Adviser to the Board, a strategic technology partnership with Juma Labs, and an update on the Company's platform and the workspace product in development, targeted for release by the end of 2026.
Key Highlights
Iliya Valchanov appointed Technical Adviser to the Board: Co-founder and Chief Executive Officer of Juma Labs, founding member of AI Engineer Foundation Europe and previously Co-founder of 365 Data Science
Strategic technology partnership with Juma Labs, with a team expected to include around eight senior engineers, including Juma Labs’ CEO and CTO, to accelerate the Company's product roadmap
New web workspace product targeted for release by the end of 2026, grounded in current information and routing each task to the best model on quality, cost and speed; marketplace and enterprise deployment expected in the first half of 2027
The Company’s consumer beta application integrates more than 35 OpenAI models, eight Anthropic models and almost 20 models from xAI and DeepSeek, alongside thousands of other open and closed source models, in a single conversation
Cash position of over £4.5 million as of 1 October 2026
Strategic technology partnership with Juma Labs
The Company has entered into a strategic technology partnership with Team-GPT EOOD, trading as Juma Labs (“Juma Labs”), to accelerate the delivery of its workspace product (the “Partnership”). Juma Labs brings significant senior engineering depth across multiple technical disciplines, with a team expected to include around eight senior engineers, including its CEO and CTO, working on the Company’s workspace product. The Board expects the Partnership to increase the rate at which the Company ships, and to broaden and deepen the Company’s capabilities.
Juma Labs will audit the existing product and deliver the core product as a web product, migrating existing user accounts. The Group will own the intellectual property created for it under the Partnership and will use Juma Labs’ existing technology under a non-exclusive licence. Juma Labs retains a non-exclusive right to use the intellectual property created for the Group but may not sublicense it to third parties without the Company’s consent.
As part of the Partnership, Iliya Valchanov, Co-founder and Chief Executive Officer of Juma Labs, backed by True Ventures, has been appointed Technical Adviser to the Board. He is a founding member of AI Engineer Foundation Europe, the European chapter of the AI Engineer Foundation, a community of AI engineers and entrepreneurs. He previously co-founded 365 Data Science, where he has delivered paid courses in artificial intelligence, data science and machine learning to more than 1.6 million working professionals. He will attend the Company’s leadership meetings in an advisory capacity, bringing additional technical depth to architecture and engineering decisions as the platform scales.
The Partnership is governed by a term sheet entered into on 21 October 2026 between Potentially Limited, a subsidiary of the Company, and Team-GPT EOOD, trading as Juma Labs. Juma Labs is engaged on a fixed fee, with a bonus payable for delivery on or before 31 December 2026, which the Board may settle in cash or in warrants over ordinary shares in the Company. The Group is ahead of its planned budget, and the cost of the Partnership falls within the Group’s existing spend projections. The Group is investing up to approximately £[0.84] million in the delivery of the workspace, which will be funded from existing cash resources. Further investment, including in the marketplace, will be determined as the product develops and is not yet committed.
Beta application update
In September 2026 the Company released the beta of its consumer application on the App Store and Google Play. It gives users access to a wide range of AI models in a single conversation, across text, image, video, audio and 3D, with chats stored on the user's own device and no training on user prompts. The application will continue to operate while the workspace is developed, and existing user accounts will be migrated to the new product on its release.
The platform now carries more than 35 OpenAI models, eight Anthropic models and almost 20 models from xAI and DeepSeek, alongside thousands of open source models, all accessible from one conversation and one credit balance.
Since the beta launch, the Company has tested different hypotheses and approaches to routing, observing how users interact with the different modalities available (text, image, video, audio and 3D). This has gathered important feedback on the future direction. The beta is already producing the data the Company needs most: how each model performs on real tasks at scale.
The Company is now focused on orchestration and smart routing, building on the routing approaches tested in the beta, where the system selects the right model for the task, so the user does not have to, which the Company believes is a significant commercial opportunity.
The workspace product
The Company’s product roadmap is focused on delivery of the workspace. Juma Labs’ senior engineering team is expected to accelerate delivery of the workspace, which is the Company’s priority.
The workspace is the Company's principal product and is intended to represent a significant step up in capability and reliability.
Where the application gives users access to models, the workspace is being built to be agentic: to plan a task, gather the current information it needs, run it across models and return finished work. It selects the right model for each step on quality, cost and speed, carries context between models through a single piece of work, and does so across text, image, video, audio and 3D. The underlying architecture is designed to meet enterprise requirements for security, reliability and data handling.
The marketplace, where users will be able to access IP from AI creators and eventually monetise their work is expected in the first half of 2027, alongside enterprise deployment. The Partnership may extend to later phases, including the marketplace. The Company is targeting workspace delivery at the end of 2026 and will keep the market updated, including through product showcases, with any material developments announced via RNS.
Leadership Commentary
Oliver Yonchev, Co-founder and Chief Operating Officer of Potentially AI PLC, commented:
“Iliya has created a community of 1.6 million AI practitioners, co-founded Juma Labs and the European chapter of the AI Engineer Foundation. He has been a key figure in European AI for the past decade, and is arguably one of Europe's top technical minds. Having him work with Potentially, alongside securing the Juma Labs technology partnership, will materially increase how fast we can deliver a world class product. The workspace will be a significant step forward: live web search, orchestration, and advanced routing. We couldn’t be more excited to introduce it in the coming months.”
Enquiries
Potentially AI PLC
Oliver Yonchev, Co-founder and Chief Operating Officer
via Bound to Prosper
Grant Thornton UK Advisory & Tax LLP (AIM Nomad)
Samantha Harrison / Harrison Clarke / Ciara Donnelly / Elliot Peters
+44 (0) 20 7383 5100
Fortified Securities (Broker)
Guy Wheatley
guy.wheatley@fortifiedsecurities.com
+44 (0) 20 3411 7773
Bound to Prosper (Corporate PR Advisors)
Lydia Hoye / Katie Sogorski
potentially@boundtoprosper.com
+44 (0) 7803 619639
About Potentially AI PLC
Potentially AI PLC (AIM: AGI) is the collective AI company. Its platform gives users access to models from providers around the world in a single interface, across text, image, video, audio and 3D, on one credit system and without training on user data, through the Company's model gateway.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.ENDMSCEAFEFAANKFAA
