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Home News Robinhood Acquires AI-Powered Platform Pluto to Boost Data and Analytics

Robinhood Acquires AI-Powered Platform Pluto to Boost Data and Analytics

by Barbara

Robinhood Markets (HOOD) saw its shares rise approximately 1% to $22.85 during Monday’s intraday trading session following the announcement of its acquisition of Pluto Capital, an artificial intelligence (AI)-powered investment research platform.

The move marks Robinhood’s strategic expansion into advanced data analytics and personalized investment strategies. Pluto Capital, known for its tailored investment solutions based on individual financial objectives, will bring enhanced AI technology to Robinhood’s platform. Specific financial terms of the acquisition were not disclosed.

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According to Robinhood, integrating Pluto’s AI capabilities will empower its customers with real-time insights, portfolio optimization tools, and personalized investment strategies. Jacob Sansbury, founder and CEO of Pluto Capital, will join Robinhood to drive the integration of AI technologies and further develop the company’s product offerings.

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Robinhood’s stock has surged 80% year-to-date as of Monday’s gains. In late May, the company also unveiled a $1 billion buyback program, signaling confidence in its growth trajectory and market position.

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