Israeli fintech BridgeWise has struck a strategic partnership with Elon Musk’s X, moving to turn the platform’s vast stream of financial chatter into signals that can be used by banks, asset managers and other institutional investors. According to BridgeWise, the service will feed its sentiment analysis product with data drawn from billions of posts and conversations, giving clients a way to track market mood alongside more traditional financial indicators.

The agreement builds on BridgeWise’s purchase of Chicago-based Context Analytics earlier this year, a deal that the company said was worth about $13 million. That acquisition brought in technology designed to process unstructured information, including social-media commentary, and helped BridgeWise expand beyond its core tools for analysing listed companies and funds.

BridgeWise chief executive Gaby Diamant has argued that financial markets are increasingly shaped by online behaviour as much as by balance-sheet data, and that the X partnership is intended to help investors spot sudden changes in sentiment, warning signs around short-selling or pump-and-dump activity, and negative discussion around individual companies. Christopher Park, X’s director and global lead, said the integration would allow BridgeWise clients to use the platform’s data within institutional workflows and trading environments.

Founded in 2019, BridgeWise has grown into a global business with offices in New York, Tel Aviv, London, Singapore, Tokyo and Brazil, and says it serves about 110 institutional clients and 25 million end users. Its partners include major exchanges such as Nasdaq and bourses in Japan, Switzerland and Brazil, as well as Israeli banks including Hapoalim, Leumi and Mizrahi Tefahot. The deal also lands at a time when Israel’s Securities Authority is moving to curb financial discussion on social media, a step that has drawn criticism from some online commentators.

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Source: Noah Wire Services