Numerai, which uses artificial intelligence for asset management, received a large investment of $500 million from JPMorgan. This news instantly triggered a 133% increase in the value of their token, Numeraire ($NMR ). With this funding, Numerai will be able to more than double its assets under management.
Founded in 2015, Numerai is radically different from traditional investment funds. Instead of relying on its own teams, it has created a platform that anyone can join. Thousands of analysts from around the world submit their market predictions using a special code (API).
To confirm the seriousness of their predictions, analysts "bet" tokens on them $NMR . If the prediction turns out to be correct, they receive a reward. If not, their tokens are burned. This system creates a strong motivation for analysts to make accurate predictions.
The year 2024 has been a true breakthrough for Numerai. Their main fund delivered a 25.45% net profit, experiencing only one month of losses. This result helped restore confidence after a disappointing 2023, when the fund lost 17%, and allowed them to outpace many competitors in the financial world.
The investment from JPMorgan is a confirmation that major financial institutions are starting to take an active interest in projects at the intersection of artificial intelligence, blockchain, and traditional finance. JPMorgan is already expanding its own AI capabilities and collaborating with other tech companies.
The news of the investment caused a dramatic rise in the value of the token $NMR , which rose above $18. This increase was also supported by recent token buybacks, which reduced their availability in the market.
Thanks to the support of JPMorgan, Numerai plans to expand its team and enhance its technological infrastructure. The company's founder, Richard Craib, emphasized that the successful results of the fund over the past year have proven that their unconventional asset management model is effective. For Numerai, this partnership not only confirms their value but also paves the way for a future where AI will play a key role in the hedge fund world.
