Numeraire (NMR), the token powering the AI-driven hedge fund Numerai, has experienced a dramatic surge in value this week. The price of NMR skyrocketed over 107%, increasing to $16.71 within a single day, and its market capitalization jumped to $124 million. This impressive growth is attributed to a recent partnership between Numerai and JPMorgan Asset Management, which has pledged up to $500 million in funding for the hedge fund. The deal represents a significant milestone for Numerai, whose assets under management have grown from $60 million to $450 million over the past three years. 107% surge is the largest jump for NMR in recent months and comes alongside an explosion of trading volume exceeding $798 million. This increase can be attributed to investors taking advantage of this new funding, which has also led to increased staking on the platform, resulting in a reduction of supply in the market. 7.5 million tokens out of a total of 11 million available for circulation have been staked, further amplifying the price spike and driving momentum for the token.