Sequoia Invests in AI Tool That Could Replace Junior Bankers (1)

Sequoia Capital is making a bet on the future of Wall Street, leading an investment in Rogo Technologies Inc., a startup developing artificial intelligence tools to make bankers more efficient, according to people familiar with the matter.

The deal would value New York-based Rogo at $750 million, the people said.

Rogo builds software that helps investment bankers with certain tasks and eventually aims to create the AI equivalent of a banking analyst. The new deal more than doubles its valuation from earlier this year, when Thrive Capital led a $50 million Series B investment in the company.

The startup ...