The DeepMind trio who built a poker AI are now making money for quant hedge funds
EquiLibre Technologies, a Prague-based AI lab founded by three ex-DeepMind researchers, is now valued at more than $500 million.
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Three former DeepMind researchers who built an AI program that defeated professional poker players have now started a Prague-based AI lab that applies similar technology to stock trading. The lab, valued at $500 million after a recent funding round, uses reinforcement learning, an AI training technique where models learn by being rewarded for successful outcomes, which works similarly for both poker and financial markets. The startup's algorithms have been trading billions in daily volume and claim to have generated positive returns every month since their rollout on crypto markets and stock exchanges. This matters because the financial markets represent an enormous potential market, and the success of AI systems in this domain could demonstrate the broader commercial value of frontier AI developed by leading researchers.
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