Kensho Nabs $500 Million Valuation In Round From S&P Global And Wall Street's Six Biggest Banks

When the United Kingdom voted to leave the European Union in June, ultimately tanking the British pound, traders with access to Cambridge, Massachusetts-based artificial intelligence platform Kensho had a special advantage. With a few keystrokes on Kensho's AI-powered platform, traders quickly combed through an intelligence-grade database of information and in seconds learned that populist votes such as Brexit historically led to an extended drop in the local currency, washing out any short-term recovery. That's exactly what happened in the days and months after Brexit. The pound plunged to three-decade lows in July, sinking to $1.28 versus the dollar, before rallying slightly to $1.33. The currency has been in a slump since then and currently sits at $1.24.