Numerai is an AI-run, crowd-sourced hedge fund based in San Francisco.[1] It was founded by South African technologist Richard Craib[1] in October 2015.[2]

Numerai’s trades are determined by an AI, which is fueled by a network of thousands of anonymous data scientists.[1][3] The provided time-series data is also cleaned and regularized, which comprises millions of samples and 1191 features that has evolved since their inception. [4] The task is to predict the probability of a given sample yielding positive returns.[5] The meta models created by these predictions are then used to create the portfolio basis for their global equity hedge fund.

Numerai's investors include Paul Tudor Jones,[6] Naval Ravikant, and Howard Morgan of Renaissance Technologies.[1]

In terms of performance, Numerai's hedge fund has achieved positive returns since its inception. According to most recent Bloomberg report,[7] Numerai had received $100 million in inflows in 2022 and returned 20% to investors despite a market downturn that saw the value of several cryptocurrencies erode by more than 90%.

References

  1. 1 2 3 4 "An AI Hedge Fund Created a New Currency to Make Wall Street Work Like Open Source". WIRED. Retrieved 2017-08-09.
  2. ↑ Wigglesworth, Robin (2016-04-18). "Artificial intelligence-focused Numerai raises $1.5m". Financial Times. Retrieved 2023-06-12.
  3. ↑ Roof, Katie. "Numerai is a crowdsourced hedge fund for machine learning experts | TechCrunch". Retrieved 2017-08-09.
  4. ↑ Parmar Prakashchandra, Surajsinh. "Utilizing Deep Learning for Enhancing Performance on Encrypted Stock Market Data". Scholar.uwindsor.ca. University of Windsor. Retrieved 9 June 2023.
  5. ↑ Παπαεμμανουήλ, Παναγιώτης Ελευθερίου (2022). "Financial machine learning, cryptocurrencies, and crowdsourced investing". doi:10.26262/heal.auth.ir.342656. Retrieved 9 June 2023. {{cite journal}}: Cite journal requires |journal= (help)
  6. ↑ Wigglesworth, Robin; Fortado, Lindsay (2017-05-21). "Tudor Jones backs AI hedge funds". Financial Times. Retrieved 2023-06-12.
  7. ↑ Lee, Justina. "Paul Tudor Jones-Backed Quant Manager Returns 20% Using Crowdsourced Ideas". Bloomberg. Retrieved 4 June 2023.
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