Wednesday, February 6, 2019

AlphaTrAI Taps QuantConnect For AI Powered Stock Trading, Picking

San Diego-based AlphaTrAI, a fintech startup backed by Analytics Ventures, says it has connected with QuantConnect, the developer of an open trading engine, to run its AI software. AlphaTrAI says it has developed artificial intelligence software which can pick, trade, and manage stocks better than humans. According to the startup, it has been running its software for the last three years, with its algorithms achieving a 58 percent average annual return on capital--consistently outperforming the S&P 500. According to AlphaTrAI, it is in the midst of moving to live, real-time trading and will be powering a new equities fund using its artificial intelligence tools. The company had announced its launch in December. QuantConnect develops a software platform specifically designed for developing, back testing, and executing trade algorithms.