Three former DeepMind researchers, known for developing an AI that outperformed humans in poker, have transitioned their expertise to the financial sector. Their Prague-based AI lab, EquiLibre Technologies, has recently achieved a valuation of $500 million following a substantial Series A funding round led by Creandum. While the exact amount remains undisclosed, Creandum’s vice president, Cameron Sellers, confirmed it as the firm’s largest single investment to date.
The connection between poker and financial markets lies in their suitability for reinforcement learning—a machine learning technique where models learn optimal strategies through trial and error, guided by rewards. EquiLibre’s CEO, Martin Schmid, highlighted the straightforward nature of financial markets for this approach, noting that the primary metric is the profit generated by the AI agent.
EquiLibre’s algorithms have been actively trading billions in daily volume across major indices like the S&P 500 and NASDAQ, in collaboration with quantitative firm Tower Research Capital. The startup reports consistent positive performance since deploying its AI agents in cryptocurrency markets in 2025 and subsequently in stock exchanges, boasting a record of zero negative months since inception.
Creandum’s investment underscores the vast potential of AI in financial markets. Sellers emphasized the immense total addressable market in trading, noting that successful funds have historically generated profits surpassing typical venture-backed successes. However, he also pointed out that EquiLibre positions itself primarily as a research lab rather than a financial firm.
Schmid and his co-founders, CTO Rudolf Kadlec and CSO Matej Moravcik, lack traditional finance backgrounds. Their motivation stems from a passion for building innovative technologies. Schmid expressed that their excitement lies in creating unprecedented solutions, rather than focusing solely on market efficiency.
This development reflects a broader trend of AI experts from leading research institutions venturing into the financial sector. For instance, Ineffable Intelligence, another AI startup founded by former DeepMind researcher David Silver, recently secured $1.1 billion in funding to develop AI systems capable of learning without human data.
EquiLibre’s journey began when its founders, as visiting PhD students, contributed to DeepMind’s first international AI research office in Edmonton, Canada. There, they developed DeepStack, the first AI program to defeat professional human players in no-limit Texas hold’em poker. This achievement laid the foundation for their current endeavors in applying AI to complex, real-world problems like financial trading.
The success of EquiLibre Technologies highlights the growing intersection between advanced AI research and financial markets. As AI continues to evolve, its applications in trading and investment strategies are likely to expand, potentially reshaping the landscape of quantitative finance.
