Robinhood Acquires AI Research Platform Pluto to Enhance Investment Strategies
Robinhood Markets Inc. has entered into an agreement to acquire Pluto Capital Inc., an artificial intelligence research platform renowned for offering personalized investment advice and real-time analytics. Pluto, founded by Jacob Sansbury, has gained recognition in the financial services industry for its AI-driven investment tools. Although the financial terms of the deal remain undisclosed, this acquisition aims to integrate more customized investment strategies and analysis into Robinhood's offerings.
In a statement released on Monday, Mayank Agarwal, Robinhood’s vice president of engineering, praised Pluto’s platform and its industry reputation. “They have built an impressive platform that is highly regarded in the financial-services industry,” Agarwal noted. He emphasized that Pluto’s expertise in artificial intelligence, aligned with their mission to democratize finance, will support Robinhood’s efforts to deliver AI-powered tools to its users.
Robinhood has diversified in recent years, venturing into services such as cryptocurrency, retirement products, and credit cards. Despite this expansion, the brokerage remains committed to serving average retail traders. Pluto’s capabilities in analyzing market data and individual portfolios can enhance Robinhood’s capacity to provide investment recommendations that have traditionally been accessible only to wealthier investors. According to Sansbury, this democratized approach to financial advice is central to Pluto’s mission, ensuring that access to these advanced tools is equitable for all users. “There will be no thresholds or no gates,” Sansbury stated in an interview, emphasizing the importance of providing inclusive access to financial services.
Robinhood’s strategic acquisition of Pluto underscores its commitment to leveraging artificial intelligence to empower retail investors with sophisticated investment tools. As the company continues to expand its range of services, the integration of Pluto’s AI-driven platform is poised to further enhance the investment experience for its growing user base.