Three former DeepMind researchers who created an AI that beat humans at poker have now applied the same technology to trading stocks ' and the bet appears to be paying off. Their Prague-based AI lab, EquiLibre Technologies, is now valued at $500 million after raising an undisclosed-sum Series A, TechCrunch learned. The round was led by Creandum, and, although the VC also declined to disclose the size of the round, vice president Cameron Sellers confirmed that it was the largest single investment the firm 'has ever made in one go into a company,' he told TechCrunch.The common denominator between poker and Wall Street is that they are well suited for reinforcement learning, an AI training technique where self-learning models are incentivized by rewards. According to Martin Schmid, EquiLibre CEO, 'The nice thing about trading and markets is that the scoring is super simple: how much money did the agent make'' This isn't just game money. In partnership with quant firm Tower Research Capital, EquiLibre's algorithms have been trading billions in daily volume across the S&P 500 and Nasdaq. The startup claims its agents have been doing well since their rollout on crypto markets in 2025, and now on stock exchanges, with 'a perfect record of zero negative months since inception,' meaning they have finished each month with their investments up overall....

' Hey, Linas here! Welcome to another special issue of my daily newsletter. Each day I focus on 3 stories that are making a difference in the financial technology space. Coupled with things worth watching & most important money movements, it's the only newsletter you need for all things when Finance meets Tech. If you're reading this for the first time, it's a brilliant opportunity to join a community of 310k+ FinTech leaders: In today's issue, I'm ranking each of the stocks (the bonus one will surprise you!) based on their performance. You will find a quick summary about every company in the list, and how 2024 was for them along with deep dives and bonus reads on what made them this year's star performers....

Private equity and hedge funds cautioned on Thursday that a proposed U.S. tax increase on carried-interest income could potentially hurt small businesses and big investors, such as endowments, foundations and pension funds. Carried interest refers to a longstanding Wall Street tax break that let many private equity and hedge fund financiers pay the lower capital gains tax rate on much of their income, instead of the higher income tax rate paid by wage-earners. 'Over 74% of private equity investment went to small businesses last year. As small business owners face rising costs and our economy faces serious headwinds, Washington should not move forward with a new tax on the private capital that is helping local employers survive and grow,' Drew Maloney, president and chief executive of the American Investment Council. 'It is crucial Congress avoids proposals that harm the ability of pensions, foundations, and endowments to benefit from high value, long-term investments that create opportunity for millions of Americans,' said Bryan Corbett, MFA president and CEO....

Exxon Mobil Corp. has been fending off a so-called proxy fight from a hedge fund known as Engine No. 1, which blames the energy giant’s poor performance in recent years on its failure to transition to a “decarbonizing world.” In a May 26, 2021 vote, Exxon shareholders approved at least two of the four board members Engine No. 1 nominated, dealing a major blow to the oil company. The vote is ongoing, and more of the hedge fund’s nominees may also soon be appointed. While its focus has been on shareholder value, Engine No. 1 says it was also doing this to save the planet from the ravages of climate change. It has been pushing for a commitment from Exxon to carbon neutrality by 2050. As business sustainability scholars, we can’t recall another time that an energy company’s shareholder – particularly a hedge fund – has been so effective and forceful in showing how a company’s failure to take on climate change has eroded shareholder value. That’s why we believe this vote marks a turning point for investors, who are well placed to nudge companies toward more sustainable business practices....