Robinhood reports $100M in AUC for agentic AI trading tool
Company eyes $1T market cap, leans on AI and international expansion for growth
Robinhood’s agentic trading tool, launched in May, has over $100 million in assets under custody and 100,000 customers using it.
The Menlo Park, Calif.-based company’s agentic trading tool allows customers to build their own AI agents to trade equities and crypto, according to the company.
The tool has access to the same features that Robinhood customers have, Chief Executive Vlad Tenev said during the second-quarter earnings call July 29.
“We’ve seen customers do really interesting things, like they can put together really complex and sophisticated strategies,” Tenev said, adding that the volume of activity using these agentic AI trading tools is increasing rapidly.
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AI moves by Robinhood this year included:
- Cutting headcount by 10% to 2,998 in June;
- Launching an agentic credit card in May, allowing customers to connect third-party AI agents, such as ChatGPT or Claude, to a dedicated virtual Robinhood Gold Card with user-set spending caps, enabling autonomous purchases that earn 3% cash back; and
- Accepting $5.2 billion in automated deposits in Q2, compared with $3.4 billion in Q1.
The bank also reported:
- Net income of $573 million, up 48% YoY;
- Net revenue at $1.3 billion, up 32% YoY; and
- Robinhood Gold subscribers at 4.8 million, up 43% YoY.
Robinhood could reach a $1 trillion market cap through the growth of its brokerage business, international expansion and agentic finance, Tenev said. Not time frame was prvided.
“I don’t think a financial company has ever hit a trillion-market cap. I think it can be done,” Tenev said.
Shares of Robinhood [Nasdaq: HOOD] were trading at $86.60 at market close today, down 3.6% from market open. Robinhood has a market capitalization of $77 billion.
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