July 1 (Reuters) - Robinhood Markets ( HOOD ) 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.

Robinhood's platform has seen a resurgence in trading

activity after a prolonged slump as higher interest rates and

heavy market volatility turned investors risk averse.

The company's popularity and appeal is immortalized in the

retail trading saga of 2021, when it became the platform of

choice for retail investors who used it to pump money into

so-called "meme stocks" during the pandemic-era lockdowns.

It has since sought to become a full-fledged financial

services provider and has been chasing growth through deals and

product launches that go beyond its traditional

transaction-related revenues.

Last month, it agreed to buy crypto exchange Bitstamp for

about $200 million in cash, in what was its biggest-ever deal.

Robinhood said Jacob Sansbury, Pluto's founder and chief

executive officer, will join the company, tasked with expanding

and accelerating its AI-focused offerings.

Its shares were last down 0.6% in choppy trading. The

company did not disclose the terms of the deal.