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Fortune

Morgan Chittum

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

Cognition Robinhood Artificial Intelligence Fortune OpenAI

Robinhood CEO Vlad Tenev stands on the floor of the New York Stock Exchange. (Credit: Michael M. Santiago—Getty Images)

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.

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