Numerai

Numerai is an AI-run, crowd-sourced hedge fund based in San Francisco.[1] It was created by South African technologist Richard Craib[1] in October 2015. Its primary competitors are other open source trading platforms mainly CrunchDAO, QuantConnect, and WorldQuant.

Numerai’s trades are determined by an AI, which is fueled by a network of thousands of anonymous data scientists.[1][2]

Numerai's investment group was led by Howard Morgan of Renaissance Technologies,[3] and its investors include Paul Tudor Jones[4] and Naval Ravikant.[3]

Numerai hosts a weekly tournament,[5] in which data scientists submit their predictions in exchange for the potential to earn rewards paid in a cryptocurrency called Numeraire. Numerai raised $7.5 million in 2016 from First Round Capital and Union Square Ventures in two funding rounds.[6]

The company was the world’s first AI hedge fund to create its own cryptocurrency.[7] Numerai's Ethereum-based cryptocurrency, named after the company itself, is called Numeraire.[8] The current supply of Numeraire is 6 million.

References
  1. "An AI Hedge Fund Created a New Currency to Make Wall Street Work Like Open Source". WIRED. Retrieved 2017-08-09.
  2. Roof, Katie. "Numerai is a crowdsourced hedge fund for machine learning experts | TechCrunch". Retrieved 2017-08-09.
  3. Wigglesworth, Robin (2016-04-18). "Artificial intelligence-focused Numerai raises $1.5m". Financial Times.
  4. Lee, Justina (2021-10-06). "Crowdsourced Quant Backed by Paul Tudor Jones Rides the Crypto Wave". Bloomberg News. Archived from the original on 2022-07-14.
  5. "Numerai". numer.ai. Retrieved 2018-05-18.
  6. Cakebread, Caroline (2017-11-10). "Numerai is changing the way hedge funds are run with crowdsourcing and artificial intelligence". Insider.
  7. Andrew Seale (2018-01-11). "Numerai becomes the world's first AI hedge fund to create its own cryptocurrency". Firmex Resources. Retrieved 2020-10-11.
  8. "Numeraire Crypto Currency: What Is The Huge Interest About Numeraire? » Market Place". Market Place. 2022-06-30. Retrieved 2022-08-03.
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