09:44 AM EDT, 07/01/2024 (MT Newswires) -- (Updates to add details after the second paragraph)

Robinhood Markets ( HOOD ) said Monday it has acquired Pluto Capital, an AI-powered investment research platform.

Financial terms of the deal weren't disclosed.

The companies said Pluto founder and chief executive officer Jacob Sansbury will stay with the acquired company after the transaction closes.

Prior to forming Pluto, Sanbury led the GeForce Now cloud gaming service for chipmaker Nvidia (NVDA). He previously was an engineer at institutional investor services company Bridgewater Associates, where he focused on quantitative finance and systematic investing.

Robinhood shares were up 0.5% shortly after Monday's opening bell.

Price: 22.83, Change: +0.12, Percent Change: +0.53