JPMorgan Invests $500M in Numerai, Fueling Convergence of Crypto and AI

Numerai, an AI-powered hedge fund backed by prominent trader Paul Tudor Jones, has received a substantial funding boost of up to $500 million from JPMorgan Asset Management. This significant investment could nearly double its assets under management (AUM), showcasing the growing interest in crypto-focused financial managers. Numerai’s allocation will be deployed over the next year with performance tied to its crowdsourced trading models developed by thousands of data scientists worldwide.