Trading app Robinhood agrees deal with Pluto Capital to tap into AI

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Robinhood Markets said on Monday it had bought artificial intelligence-powered investment platform Pluto Capital, adding the trading app to a growing list of companies looking to offer AI tools to customers.

Top technology companies are racing to build AI into their products and services. Generative AI, which aims to create human-like interactions by processing vast amounts of data, has taken the world by storm, with analysts expecting it to lead transformation across industries.

The Menlo Park, California-based company said the deal will give investors on its platform access to enhanced data analysis, personalized investment strategies as well as real-time insights and portfolio optimization.