Trading Platform Robinhood Acquires Pluto to Provide AI-driven Investment Advice

Trading platform Robinhood is reportedly acquiring artificial intelligence (AI) research service Pluto Capital. As per a Bloomberg report, this purchase is aimed at offering tailored investment strategies and analysis to Robinhood’s users, with the help of Pluto’s AI-driven personalized advice and real-time analytics. 

“They have built an impressive platform that is highly regarded in the financial services industry,” Mayank Agarwal, Robinhood’s VP of Engineering, told Bloomberg.

“Their expertise in artificial intelligence coupled with a mission-aligned passion to democratize finance will complement our team’s effort to bring AI-powered tools to our customers,” Agarwal added.

With the Pluto acquisition, the company can now analyze updated market information and a consumer’s own portfolio to provide investment recommendations. According to Pluto Capital founder and CEO Jacob Sansbury, this is a personalized kind of advice that only wealthier investors have access to, and he wanted to change that.