EXCLUSIVE: Robinhood bets $10 million on AI coding tool maker Cognition—after previously backing a rival

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.

Source: Fortune Crypto