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Numerai raised 500 million USD from JPMorgan, NMR token increased by 33%
The AI hedge fund Numerai announced that it has received an investment commitment of up to 500 million USD from JPMorgan Asset Management, marking a significant milestone in expanding its capital.
Over the past three years, Numerai has scaled its assets under management from 60 million USD to 450 million USD. Last year, the company's global equity hedge fund achieved a net return of 25%.
Numerai reveals that it is expanding its team, recently hiring AI experts from Meta and trading engineers from Voleon.
The native token of Numerai, Numeraire (NMR), increased by 33% after this information.