A startup founded by three ex-Google DeepMind researchers which builds AI agents to trade across the Nasdaq says it has hit a valuation of more than $500m, following fresh funding.
Prague-based EquiLibre Technologies says it has closed a Series A funding round, but did not disclose how much it has raised.
The funding round was led by European early-stage investor Creandum, which, the VC said, marked its single biggest investment in a startup.
EquiLibre builds reinforcement learning agents which trade billions of dollars on the S&P 500 and Nasdaq financial markets daily, it said. Reinforcement learning is when AI models learn from experience. The founders are the team behind DeepStack, the first AI to beat human professional players at no-limit Texas hold'em poker.
The majority of the capital raised will go towards purchasing compute power to scale the operation, the startup said.
