Breaking: Robinhood Acquires Pluto For AI-Powered Investment Advice To Users
Robinhood, a leading name in the crypto industry, has announced the acquisition of Pluto. It is an innovative AI-driven investing copilot. Moreover, this move aims to enhance the exchange’s offerings with advanced AI tools, catering to retail investors. Hence, users will now be able to harness the power of AI to make informed investment decisions.
Robinhood Announces Pluto Acquisition
Robinhood’s spokesperson expressed enthusiasm about the acquisition. In a press release Mayank Agarwal, Vice President of Engineering at Robinhood stated, “They have built an impressive platform that is highly regarded in the financial services industry.” He added, “Importantly, 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.”
The financial terms of the acquisition have not been disclosed. However, industry experts speculate that the deal could significantly enhance Robinhood’s competitive edge in the market. The integration of Pluto’s advanced AI capabilities is expected to attract a wider range of investors seeking sophisticated tools.
Pluto, under the leadership of CEO Jacob Sansbury, has gained recognition for its cutting-edge AI technology. Sansbury emphasized his excitement about joining Robinhood. “Robinhood is the ideal destination to build products that democratize access to financial services like wealth management and financial planning through state-of-the-art AI,” he said.
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