1、M IdeaRobinhood Markets,Inc.|North AmericaAgentic AI and Social Network to Unlock Next Growth PhaseWe lean more positive on HOOD with product velocity continuing to accelerate that supports market share gains and TAM expansion.Active Trader Summit featured new product announcements,around AI,Social,

2、among other expanded capabilities.We recently attended Robinhoods 2nd Active Trader Summit in Las Vegas that hosted over 800 active traders with over 1,100 attendees.Overall attendance was double compared to their first Active Trader Summit a year ago in Miami.At the event,Robinhood announced a numb

3、er of new product introductions and innovations that demonstrate significant product velocity.This enhances HOODs ability to drive market share gains,and grow the TAM by narrowing the capability gap vs peers,democratizing access to a broader set of trading tools(e.g,options,index options,futures,etc

4、)with easier to use interface,embedding AI to level the playing field with institutional investors and building a community of users through a new social network.Combined,this supports the multi-year earnings growth outlook.Notably,Robinhood announced new AI capabilities for traders,plans to roll ou

5、t its own social network,and a number of product enhancement,including enabling short selling,multiple individual accounts,among other enhancements.Key announcements included:1.New AI Capabilities powered by Robinhood Cortex,including custom indicators and custom scans,that will begin rolling out in

6、 early 2026.Recall Cortex is Robinhoods AI tool for customers that was rolled out earlier this year to help users better understand stock price movements.Cortex is provided at no additional cost for Gold customers.Robinhood continues to innovate and deliver new AI enabled tools and we expect continu