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The DeepMind trio who built a poker AI are now making money for quant hedge funds

Three former DeepMind researchers who created an AI that beat humans at poker have now applied the same technology to trading stocks — and the bet appears to be paying off. Their Prague-based AI lab, EquiLibre Technologies, is now valued at $500 million after raising an undisclosed-sum Series A, TechCrunch learned.

The round was led by Creandum, and, although the VC also declined to disclose the size of the round, vice president Cameron Sellers confirmed that it was the largest single investment the firm “has ever made in one go into a company,” he told TechCrunch.

The common denominator between poker and Wall Street is that they are well suited for reinforcement learning, an AI training technique where self-learning models are incentivized by rewards. According to Martin Schmid, EquiLibre CEO, “The nice thing about trading and markets is that the scoring is super simple: how much money did the agent make?”

This isn’t just game money. In partnership with quant firm Tower Research Capital, EquiLibre’s algorithms have been trading billions in daily volume across the S&P 500 and Nasdaq. The startup claims its agents have been doing well since their rollout on crypto markets in 2025, and now on stock exchanges, with “a perfect record of zero negative months since inception,” meaning they have finished each month with their investments up overall.

By applying its AI to quant hedge funds, the startup is in a field where automation is commonplace and, if successful, improvements can quickly turn into cash. That made the startup appealing to Creandum, Sellers said.

“The potential total addressable market of trading in the financial markets is one of the biggest on earth, and there are countless funds over the years that have generated quantums of profit that make most venture-backed successes look small,” Sellers said. But he noted that EquiLibre explicitly defines itself as “a lab first, not a finance firm.”

Schmid and his two founders — CTO Rudolf Kadlec and CSO Matej Moravcik — don’t have a background in finance, and it is not what drives them, he told TechCrunch. “I’m not doing this because I’m excited about making markets efficient. I’m doing this because we are all excited about building new things that have never been built before, and this is a lot of fun to build,” Schmid said.

The prospect of frontier AI by by DeepMind alumni is an area of hot pursuit by VCs as well. Another recent such example is Ineffable Intelligence, which recently raised 1.1 billion. Most of these are based in the U.K., but there are notable exceptions, including EquiLibre. 

In the case of EquiLibre’s founding trio, they were visiting PhD students at the Google-owned company’s first international AI research office in Edmonton, Alberta, Canada (which Alphabet shut down in 2023.) While there, they built DeepStack, the first AI program to defeat pro players at no-limit poker, also known as Texas hold ’em. They also worked with professors who are now part of the startup’s high-profile advisory board — including Rich Sutton, who went on to receive the Turing award in 2024 for his work on reinforcement learning.

To build their startup, EquiLibre’s founders decided to move back to their home country, Czechia. “This is where we had a lot of people we had worked with, and there was a large Czech diaspora at Google and other places,” Schmid said. “These were our friends, so we told them, ‘Hey, guys, we are moving back to Prague, do you want to join us?’”

That helped EquiLibre build its initial team back in 2022 and reach its current headcount of 25 people; but according to Schmid, that choice of location keeps paying dividends. Compared to San Francisco, “It’s much easier to keep the good people here, because there’s not a new sexy AI thing happening every two months.”

Not that EquiLibre is the only hot AI startup in town. BottleCap AI is based in the same building.

Still, this is one of the more notable AI companies in the region for talent. It next plans to scale its compute infrastructure, bringing online what it expects will be one of the largest compute clusters in Central and Eastern Europe (CEE).

While the startup also declined to disclose its total funding to date, Schmid said it previously raised two other funding rounds, with pre-seed backers including CEE-focused VC firm Credo, which also backed ElevenLabs and UiPath. According to Dealroom data, EquiLibre’s $10 million seed round was led by Blossom Capital at a $140 million valuation.

Sellers confirmed that the Series A $500 million valuation was a big jump. But it also comes after the winds have changed favorably for reinforcement learning (RL), including in trading. “When we started, people were skeptical,” said Schmid. But now RL is the standard. “Because we started four years back, we believe we are ahead.”

Still, there is a risk that the startup will get leapfrogged by competitors. Trading giant Jane Street, for instance, states it already uses RL with LLMs, “or whatever else we need to train good models.” It also claims it has “tens of thousands of high-end GPUs,” while EquiLibre is seeking to squeeze more compute out of way fewer chips and “get more from less,” Schmid said.

Considering how profitable Jane Street is, EquiLibre will have to play its cards well in order to reach its goal to be known as “the AI lab in trading.” But this isn’t poker, and there might be no losers. Says Schmid: “This is not a winner-takes-all market.”

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Gritt exits stealth with $32 million for robots to build solar plants — then, everything else

One of the most important things happening on Earth today is the solar energy build-out. Around the world, companies and countries are racing to deploy solar and batteries to achieve energy independence and limit the effects of climate change.

That build-out, though, is running into a labor market challenge, with a limited supply of workers to meet a growing demand for installation. Robots could be an answer, but industrial robots have historically struggled in unstructured environments, at least until now. The latest generation of AI models may have changed that equation.

That’s the driving idea behind Gritt, a startup founded by two Carnegie Mellon-trained roboticists, CEO Puneet Puri and CTO Vishal Dugar. The company exited stealth Tuesday morning with a $26 million Series A round of funding led by Obvious Ventures, with participation from Union Square Ventures and Active Impact Investment. That brings its total funding to $32 million, following an earlier seed round backed by First Round Capital, Climactic, Congruent Ventures, and VSC Ventures. The startup is building an intelligent system to “help civilization build infrastructure faster,” in Puri’s words.

“Our thesis is that if we truly want to speed up construction,” Puri tells TechCrunch, “you need an intelligence which can work in the outdoor, chaotic environments of these construction sites, and it has to be generalizable enough that it can work in these varied environments.”

Rather than building its own robots from scratch, Gritt uses off-the-shelf hardware — thus far, rented skidders and robotic arms built by companies like Kawasaki — to build platforms that are controlled by its AI models. The first job its systems handle is unloading large, glass solar panels, carrying them toward the metal frames where they need to be installed, and positioning them on the frames with sub-millimeter accuracy so workers can fasten them.

“There are people who used to build rockets that went into space and had infinite budget for the smallest little part, and then there are people who know what it means to get into dirty, dull, and dangerous jobs and scale them like mad,” said Andrew Beebe, the partner at Obvious Ventures who led Gritt’s Series A round. “These guys are in the second camp, and that’s a special kind of entrepreneur that has the technical chops, the AI, and the machine vision skills to make it work.”

Gritt has two systems currently deployed in the field, using the data they collect to improve their behavior. Puri says that a typical eight-person crew can install 800 panels a day, but the same crew working with Gritt’s systems can install 3,000 to 4,000 panels each day.

Now, the company says it is contracted to help install 2.8 gigawatts of solar panels in the next 18 months, and that its customers include three of the top 10 U.S. power construction companies. The company hopes to be operating 48 of its systems within the next six months.

TechCrunch spoke to one Gritt customer who declined to be identified for competitive reasons, but who was enthusiastic about the system’s ability to improve his work. He expects it to be easier to work at remote sites where it is difficult to attract workers, and anticipates a reduction in injuries since workers won’t have to repeatedly lift 100-pound panels overhead.

Gritt is competing against companies with their own panel-installing robots like Luminous Robotics, Cosmic, and China’s Trinabot. Those companies are building their own hardware, rather than focusing on off-the-shelf vehicles and arms like Gritt, a difference that could shape who grows faster and with a leaner cost structure as demand grows.

Gritt wants to add new manipulation tasks to its system so it can fasten the solar panels, drill posts, and even build the racks they sit on. Longer term, it also wants to move into other common, labor-intensive construction tasks, like tying rebar before concrete is poured over it.

What’s enabled the startup to pursue this vision? Mainly, the rise of new AI models, the founders say.

“Making a system for one solution was still possible to some extent five years ago, right?” Puri said, but AI is now making that work generalizable — the same underlying pipeline can be reused and improve across tasks. As an example, he noted that training the system to stack cinder blocks took weeks, while a similar demo with rebar tying took just a day using the same software.

But training new tasks is just the beginning of Gritt’s vision. The founders believe the suite of sensors and intelligence its systems bring to worksites can do more than install panels; it can boost management and decision-making. For instance, they imagine their system noticing a trench is open while a storm approaches, allowing it to alert workers to cover it before rain damages components, or flagging missing inventory.

“Gritt becomes now this layer of physical AI, which is doing this dextrous, labor-intensive task, plus it can help you take decisions on the site,” Puri said.

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Bluecore Energy raises $10M to build portable nuclear reactors on barges

Maritime nuclear energy startup Bluecore Energy on Tuesday said it had raised $10 million in a pre-seed funding round that was led by Slauson & Co.

Founded seven months ago by Kofi Asante, who previously worked with Uber Freight, Bluecore is building small nuclear reactors (SMRs) on floating barges with an aim to provide clean power to ports and nearby infrastructure. The reactors heat water and transfer the resulting steam into a generator, which then spins a turbine to generate electricity, Asante explained. The system is water-cooled in a closed-loop.

The energy expected to be produced on Bluecore’s barges can be moved by ship to its next location, reducing the emission involved in its transport to zero, Asante claims. Plus, he said the entire system behind the nuclear power plant only needs to be refueled once every few years.

Bluecore’s barges can also be docked near communities, and can connect to the power grid via subsea cables. The goal is to try to power the “equivalent of approximately 15,000 homes or scale to meet the power needs of a major port,” he told TechCrunch. 

“We are able to utilize existing water-cooled nuclear technology that has been operating for over 70 years,” he said. “With a production line of small modular reactors that can be rapidly deployed on water, there is a pathway to provide clean energy to the majority of the country.”

Bluecore will be using the fresh capital to deploy its product. It has already secured a port terminal, barge, and test reactor pressure vessel, Asante said. “The test vessel allows us to simulate flow with water, which is the cooling source of the system. We are combining hardware with software testing to validate and verify the foundation of our design,” he added.

The startup is working with regulatory agencies to “embed the safest design decision” into its first product. Asante said the startup is building many layers of “safety and redundancy,” like having the uranium clad and protected in a thick steel pressure vessel and then padded with concrete shielding and steel lining. 

Asante is hoping Bluecore may be able to help with the increasing power demand sparked by the ongoing data center buildout. “AI data center execs have shared with me that they would not need to pull water or energy from communities around them if they are able to receive their own source of electricity and have access to water that is provided at sea,” he said. 

Other investors in the round include Harlem Capital, Precursor Ventures, Ripple co-founder Chris Larsen, and actor Kevin Hart’s HartBeat Ventures, as well as a few angel investors.

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Music streamer Deezer says more than 50% of daily uploads are AI-generated

Music streaming company Deezer has been tracking the number of AI-generated tracks uploaded on the platform since last year, and the number has constantly gone up. Today, the company said that AI music now represents more than 50% of downloads.

Deezer said that AI-generated track uploads were at a peak in June 2026, representing a monthly average of 90,000 tracks per day.

The rapid rise of AI-generated music has forced streaming services to decide how much of it they want on their own platforms. There is no single consensus yet on that front. Some take strict steps, like Bandcamp banning such tracks or Tidal cutting off monetization. Meanwhile, Apple Music has a voluntary AI-tagging system, and Spotify developed its own policy about how much AI was used in music-making.

Deezer’s latest move on this front will involve taking down AI-generated tracks that haven’t been streamed in the past six months or are involved in fraudulent streams to drive up revenue.

“Deezer has been at the frontline of fighting fraud and reducing payment dilution related to AI music for almost two years. Now that half of all daily uploads are AI-generated tracks, we are taking additional steps to safeguard the rights of artists and songwriters, while maintaining focus on music that fans actually love,” Deezer CEO Alexis Lanternier said in a statement.

The streamer first released stats around AI music uploads in January 2025, when the daily upload volume was around 10,000 tracks, or 10% of daily uploads. The number grew to 20,000 tracks, or 18% of daily uploads, in April 2025. It then climbed to 30,000 tracks, representing 28% of daily uploads in September 2025, followed by 50,000 daily uploads, or 34% of daily uploads, in November 2025.

This year, it grew again to 60,000 tracks, or 39% of daily uploads, in January 2026. As of April 2026, the figure reached 75,000 tracks, or 44% of daily uploads.

Deezer started labeling AI music on its platform last year, and said that its detection tech can also identify tracks generated with models from Suno and Udio, AI-music startups that are embroiled in copyright lawsuits. Earlier this year, Deezer made its detection tech available to other platforms, but it’s not clear if any of the major platforms are using the tool just yet. Last month, it also released a tool that can sift through Apple Music and Spotify playlists for AI-generated tracks.

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