Robinhood buys AI-powered investment research platform Pluto Capital

Robinhood Acquires Pluto Capital: Key Points

1. Acquisition Details:
   • Robinhood acquires investment research platform Pluto Capital for an undisclosed sum.
   • Marks Robinhood’s second acquisition in less than a month.
2. About Pluto Capital:
   • Founded in 2021, based in Los Angeles.
   • Provides a free trading platform with AI-powered analysis tools and large language models (LLMs).
   • Users can create and automate trading strategies for cryptocurrencies like bitcoin, ethereum, and polygon.
   • Features include:
     • Sparks programme: rewards for educational initiatives.
     • Community dividend programme.
     • Strategy monetisation programme: users can earn money by licensing their strategies to others.
   • Manages an investment management fund focusing on digital assets.
3. Strategic Fit for Robinhood:
   • Acquisition expected to enhance Robinhood’s data analysis, personalised investment strategies, real-time insights, and portfolio optimisation capabilities.
   • Pluto’s founder and CEO, Jacob Sansbury, to join Robinhood as an “AI technologist”.
4. Statements and Goals:
   • Mayank Agarwal, Robinhood’s VP of Engineering, praises Pluto’s platform and AI expertise.
   • Acquisition aligns with Robinhood’s mission to democratise finance and integrate AI-powered tools.
5. Recent Acquisition History:
   • Follows Robinhood’s acquisition of global cryptocurrency exchange Bitstamp for approximately $200 million.
   • Expands Robinhood’s reach into the EU, UK, USA, and Asia with Bitstamp’s 50-plus licenses and registrations.