JPMorgan backs hedge fund Numerai with $500M, fueling crypto-AI convergence
Numerai, the Paul Tudor Jones–backed hedge fund powered by crowdsourced AI models, has secured a $500 million commitment from JPMorgan.
Numerai, an AI-driven hedge fund backed by Paul Tudor Jones, has secured a commitment of up to $500 million from JPMorgan Asset Management — a vast sum that could more than double its assets under management and highlight a growing institutional interest in crypto-friendly money managers.
Numerai confirmed Tuesday that the allocation will be deployed over the next year, with returns tied to its crowdsourced trading models built by thousands of data scientists worldwide.
Since its inception in 2015, Numerai has expanded its assets under management to roughly $450 million, with most of that growth occurring over the past three years.