EXCLUSIVE: Robinhood bets $10 million on AI coding tool maker Cognition—after previously backing a rival
Source: Fortune ·
“It’s not a winner-take-all market,” says Sarah Pinto, head of Robinhood Ventures.
From the source
Morgan Chittum here. It seems like everyone in Silicon Valley wants to back the next big winner in AI coding. Robinhood Ventures is betting there’s room for more than one. OpenAI’s Codex, Anthropic’s Claude Code, GitHub Copilot, and Cognition’s Devin are all competing for attention from developers. Robinhood’s venture arm now has money riding on two of the companies behind them. Robinhood Ventures has cut Cognition a check for $10 million, the company exclusively told Fortune, which follows a $75 million investment in OpenAI back in April. Sarah Pinto, head of Robinhood Ventures, has no issue with backing rivals. “It’s not a winner-take-all market,” she said. Robinhood’s own engineers use multiple AI coding tools, she noted, adding that within its consumer business, Robinhood lets customers choose between different AI models to run its trading agents. The Cognition investment was part of the startup’s Series E funding round in September, which raised more than $2 billion at a $48…