Robinhood Markets is launching a feature enabling customers to delegate stock trading and credit card spending decisions to AI agents. These agents will operate from a separate account with a dedicated, pre-funded wallet, analyzing portfolios to suggest strategies. The initiative places Robinhood among financial firms integrating AI into consumer services. Access begins with Robinhood Gold cardholders, who can set spending limits and approvals for agent transactions.
Robinhood Markets is introducing a feature allowing customers to use AI agents for stock trading and credit card purchasing decisions. Users can create a separate account for these agents and connect it to a dedicated wallet.
The agents can analyze user portfolios to develop trading strategies and suggest investments. However, they can only place orders using the pre-loaded balance in the dedicated wallet, as stated in the company’s announcement.
This move joins a crowded field of financial firms offering AI tools for services like stock research. The agentic feature marks a step forward, said Robinhood’s vice president of product management, Abhishek Fatehpuria.
“These AI agents for consumers have started to trade in the market,” Fatehpuria said. “One thing that we’ve learned from talking to our customers is that they want to give their agents the power of Robinhood, but in a very safe way.”
Robinhood Gold cardholders can direct AI agents to transact on their behalf after setting a monthly spending limit. They must also opt into or out of required manual approvals for these transactions.
A cardholder could set an alert for a restaurant reservation, directing the agent to book it. A fashion devotee could ask an agent to find and purchase a handbag if the total cost is below $2,500.
Customers with Robinhood Gold cards will gain access to the capability first. Platinum cardholders will be added after that card launches later this year.
Robinhood stock climbed just shy of 2% higher on Wednesday following the news. Investors did not view the update as an event likely to cause significant volatility.
Despite this innovation, Robinhood’s stock has slid 36% year-to-date. This raises concerns about its performance amid a competitive and volatile trading environment.
Most analysts maintain a positive outlook on Robinhood, with price targets significantly higher than the current $74.09. Bernstein and B of A Securities are particularly optimistic, setting targets at $130 and $154, respectively.
