Numerai Strives to Become the Final Hedge Fund Globally, Powered by AI and a $500 Million Valuation
- Numerai, an AI-driven hedge fund, raised $30M in Series C funding led by university endowments, valuing it at $500M—five times its 2023 valuation. - The funding, combined with J.P. Morgan’s $500M capacity commitment, aims to scale Numerai’s AUM toward $1B by expanding AI teams and institutional products. - Leveraging a global data science tournament and Ethereum-based cryptocurrency (NMR), Numerai’s model aggregates machine learning signals into a Meta Model for trading. - With a 25.45% net return in 202
Numerai, a hedge fund based in San Francisco that utilizes artificial intelligence and decentralized finance, has raised $30 million in a Series C round led by leading university endowments,
Richard Craib, founder and CEO of Numerai, highlighted the importance of this funding, noting that it supports the company's goal of creating a "21st-century asset management model" driven by top data scientists. "This funding enables us to accelerate our mission to build the world's final hedge fund—powered by AI and developed by the best data scientists globally," Craib commented
Numerai's unique approach blends AI, open-access trading, and crypto, drawing interest as Wall Street increasingly explores crowd-sourced insights. Its scalable platform and profitability outlook have led to comparisons with prediction-market platforms like Kalshi, though Numerai stands out for its focus on sophisticated equity trading models.
The company has recently expanded by opening a New York office and hiring an AI engineer from Meta Platforms Inc. to utilize large language models for extracting trading signals from text data. The firm's blog also mentioned a $1 million buyback of NMR from the open market, reflecting confidence in its platform.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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